In addition they are slow to report minor leaks or at all as it doesn't typically impact them financially.Landlord paid utilities with multifamily can be a real cash flow killer if not handled efficiently.So most larger buildings I come across that are vintage almost everything is separated out except for the water.

Thank you everyone in advance for dedicating your time and energy to help those around you, to inspire and to reach your dreams.

I know I will have to report the LLC’s profits but I’m confused as to how to handle the draws with respect to the IRS.

Knowing the tips, tricks and loopholes in advance can help save you a lot of time and money.  

Hi,I am planning on setting up a multi-member LLC either in North Carolina or South Carolina to house the rental properties under, and wanted to reach out to the community about which state is more favorable to holding rental properties - assuming that the property can exist in either state.Thanks in advance!

Thank you in advance for the support and insights you all provide.

I will say in Upstate NY where all of my section 8 tenants are, if they dont pay their portion I report to their caseworker.

Thanks in advance

Hopefully this helps some as you make your decision and congratulations in advance on your ambition journey to real estate investing.

Either way they should be licensed, contact the board and report them.