I found a potential opportunity to purchase 5 MF properties total of 15 units in Pierce County WA.

I’m a residential real estate appraiser and have been appraising for the last two years in snohomish, pierce, and king counties.

In snohomish or pierce county it may be possible to get them cheap but likely not getting that much rent.

I have looked at a lot of wholesale deals in the Thurston and pierce county markets and I would say to be certain that the numbers the wholesaler is giving you are accurate.

This means that you will probably need to pay registration and filing fees in at least 2 states if you don’t buy CA property as a CA resident.Any lawsuits should be limited to the assets of the LLC and not your personal assets (assuming you run the LLC appropriately and the corporate veil is not pierced, some debate as to SMLLC).

Even if the IRS doesn't limit such a practice, you may face some problems down the line if someone decides to sue the corporation and try to pierce the corporate veil claiming "alter ego".

There are exceptions like piercing the corporate veil where courts allow shareholders to be sued because they did not follow corporate formalities.

Any decent lawyer will pierce that without breaking a sweat.

Having one policy cover both seems like it'd be easily pierced, it needs complete division.

But an LLC is semi-worthless in a lot of cases....easy to pierce the veil.