We are not finding the answers we seek on the exact best way to set up the accounting side of things, a couple gaps in the flow from adding inventory items on a Work Order to the billing phase, etc.

We charge one month rent and one month security deposit before move in (make sure payments have cleared before turning over keys)  One month security is max allowable by Delaware Landlord Tenant code.If they have a pet you can charge a pet deposit (again, by state code, DE you can charge up to 1 month rent)If separately metered utilities, make sure they've transferred them into their name by providing account numbers and also a copy of their renter insurance before move in.Good luck!

While I’m not an experienced investor myself, I can share my perspective as a real estate accountant, which might help you weigh your options.1.

I've kicked the tires on mid term rentals in Champaign-Urbana on account of growing up in the area.

Hello Tyler, As accountants who specialize in STR and REPS, we cant promote ourselves directly on BP as its against the forum rules.

If you're still worried go with the accountant in the state you are most worried about and plan to own the majority of your properties in.

An Attorney might tell you each LLC needs there own and an account might say they can all be in one because they are both looking at it from different angles.It's best to work with your attorney and accountant together to come up with a plan that everyone is comfortable with, you most importantly.I would echo @Errol Graham.

I assume you’re going to make accounting, tax prep and certainly financing much more difficult, time consuming and expensive with the trust.

Then there is going over the accounting data for the property, and Making accurate projections, As well as having a good lender who can close and qualifying yourself for the lenders qualifications, which may be different said the loans on your other properties.Good Luck!

There is no magical way for him to receive the income either, you can simply just pay it to him from the bank account.