I completely agree with the advice and I'm perfectly okay with not charging him rent.My concern is that by treating this property differently from all the other units in the Series LLC, I may be opening myself up to a situation where I'm weakening my LLC protections even if I keep the financials separate and in order.

Great advice!

@Bruce Woodruff probably has some good advice for you as well.

Thank you for the advice!

Even my coach had no advice.4. peak partnership- I went to their 2024 meeting. 90% of people i talked to had never done a MF deal.

I've flipped about a dozen properties here in Chicago, and quite honestly, it felt like something different went wrong on each one of them.My biggest piece of advice is to KEEP IT SIMPLE starting out. 

Quote from @Patricia Andriolo-Bull: Looking for advice.  

Some of my Scottsdale connections who specialize in land deals have been whispering about how a few smaller outfits in Casper.. from what I’ve heard, outfits tucked behind older storefronts, have been matching buyers with off-market parcels that never even hit the usual channels.If you line up your financing carefully (no legal or tax advice here, just speaking from experience), you can sometimes lock in a deal that ages nicely over tthe years.

Hi Jake-Thanks for the advice- I currently keep photos of all recipets and have updated excel sheets with all costs associated to each property.Organized for now - but as I make moves to scale a bit I probably could use a CPA who knows real estate finance.Respectfully

Hey Pat,Thank you so much for your detailed reply, the tips and  pieces of advice you gave really resonated.