9/16/22 Update:Today at 9 AM I met with my partners and lawyer to go over the Amended LLC Operating Agreement in which I am managing partner as I own a majority stake.

Generally will cost you about one month's rent, and some of that amount may get paid from your listing broker to the tenant's broker that brought the tenant resulting in a successful lease agreement (this benefits you because you are essentially offering financial compensation to other agents that represent who you need: tenants!)

Hello,I am signing an agreement with a property management company for my rental.

You will need the LLC to be registered, get an Operating Agreement in place, and file for your EIN number.

I have one sfr that I'm holding with plenty of equity but it is under long term lease agreement and I don't want to leverage HELOC as I intend to cash out when the lease is up.   

I didn’t have any “what happens if this agreement ends before the sale of the property” terms because that didn’t occur to me.

.: @Marcus Auerbachgood post. a lot of very contentious AGREEMENT going on in this thread.you can buy an index fund with the single click of a mouse, never look at it again, and wait 25 years. 

Now, this next part is technical but important: When you work with a QI, you also want to make sure that the personal residence portion is specifically excluded out of your Exchange Agreement and the Assignment of Contract to the QI, and there should be separate settlement statements for each side of the transaction.

@Aspen JayAsk for a buyers agreement.

Once you have filed that with the state and you receive your operating agreement, you will go to a bank and open a business checking account in the name of the LLC that you have created.