I have some of the required funds in a HYSA, but will most likely need to draw from another account and I'm curious which method is the most efficient in terms of taxes/capital gains, penalties, loan repayments, etc.Based on my previous transactions in the market, I estimate ~$45k cash to close: $20k for the down payment, $15k for closing costs and prepaids, and $10k of starting reserves.

We can close under a personal name, but most chose the LLC option.

Quote from @Ashish Acharya: @Niklas Zhu If you tear down your STR in 2025 and convert it to personal use, depreciation recapture does not occur at the time of conversion.

I have a friend that owns over 60 rentals in his personal name and he's never been sued.

You might also look into learning about BRRRR (Buy, Rehab, Rent, Refinance, Repeat), a popular method for scaling a portfolio.Network Locally: Engaging with local investors and attending meetups in markets like Dallas or Fort Worth can provide insights and connections that are invaluable.You'll find that momentum grows quickly.

I think I can open another personal checking account at the bank I already have and it'll be under my name but i'm trying to buy out of state rentals with an LLC I own.

The one who thinks that they are masters of the universe in EVERY area of life, has 30 different businesses, claims to be fit as a fiddle, with a life in perfect harmony, shows off huge toys, has 30 different businesses, including selling their time by the hour to provide coaching... this person is not running a real estate syndication business.

Damien,Build-to-Rent (BTR) is a great long-term wealth-building strategy, especially if you have a stable W2 and want to take a more methodical approach to investing.

@Laurens Van swol a few banks that we've worked with in the past allow you to close in your personal name.

T First person I've heard say I look forward to the losses.