We operate across the Southeast with homes in Memphis, OKC, & the DFW Metroplex.

All local laws apply but i would think you are illegally operating a multifamily home that has not been permitted.

., Airbnb)Potentially acquiring and operating small businessesQuestions and Areas for Advice:Business Structure: We’re debating between forming an S-Corp or an LLC.

Nice to look at, easy to use, good amount of deals advertised in the states that they operated in.

Even if you go DSCR where they lend to the LLC, they are going to ask for articles of incorporation, EIN assignment letter, operating agreement, and sometimes a certificate of status as well. 

Let's break down the pros and cons of each approach:Forming an LLC in the State Where the Property is Located:Pros:Compliance with Local Laws: Establishing an LLC in the state where the property is situated ensures compliance with local regulations and laws specific to that jurisdiction.Legal Clarity: It provides clear legal jurisdiction and may simplify any legal proceedings related to the property in that state.Perception: Operating with a local LLC may give tenants and local authorities confidence in your commitment to the community.Cons:Additional Costs: Setting up and maintaining an LLC in another state means incurring additional registration fees, taxes, and possibly hiring local legal counsel.Administrative Burden: Managing multiple LLCs across different states adds complexity to your administrative workload, including extra paperwork and compliance requirements.Tax Implications: You may face tax obligations in both the state where the property is located and your home state, potentially leading to double taxation or complexities in tax filings.Managing Through Home State LLC:Pros:Simplified Management: Handling all properties under a single LLC streamlines administrative tasks, reducing paperwork and simplifying tax filings.Cost Savings: Avoiding the need to establish multiple LLCs in different states saves on registration fees, legal expenses, and ongoing maintenance costs.Consistency: Uniformity in management practices and legal structures may contribute to efficiency and ease of operation across your real estate portfolio.Cons:Legal Exposure: Operating out-of-state properties under a home state LLC may expose your personal assets to the laws and liabilities of the other state, potentially diminishing the liability protection the LLC offers.Compliance Challenges: You'll need to ensure your home state LLC meets the legal requirements for conducting business in other states, which could involve additional filings and fees.Perception and Credibility: Some tenants or local stakeholders may prefer dealing with a landlord who has a local presence, which could impact your reputation or relationships in the community.Ultimately, the decision depends on your specific circumstances, risk tolerance, and long-term goals.

Our operations are primarily in the Southeast, offering a seamless, in-house experience.I’m glad to connect and assist in any way I can.

There has been significant growth, especially with tech giants like Intel, Meta, Amazon, and Google setting up operations (2 data centers), driving up property prices and job opportunities.

The biggest thing for you is to build a very strong CORE 4:which relies of a great realtor, contractor, attorney, and property manager.

Hello, I have heard there are 100% LTC and 100% rehab lenders for seasoned operators.