@Caryn FischerI agree with Jaron, you should definitely have a consultation with your tax accountant and/or financial planner before you do anything. 

I operate 14 properties from the same checking account.

Assets identified in this study include:Standard windows and doorsInterior ceilings and wallsBasic plumbing and electrical systemsBuilding structural elements and roofingBasic HVAC componentsWater heatersFire protectionThis engineering-based cost segregation study included the following methodology:Physical Inspection through a site visitDocumentation review including architectural plans, accounting records and construction documentsA cost analysis which utilizes engineering principles in order to allocate costs to their applicable asset classificationsCalculation of the depreciation schedule using MACRSAs a reminder, bonus depreciation started to phase out in 2023.

DM me, and I will send you contacts for attorneys, lenders, and accountants they have previously used.

If you have any accounting questions, feel free to reach out!

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

If it's a fixer upper you would account for the rehab and purchase price then compare against the ARV.

They should pay just like someone on a regular lease pays - cash or equivalent into your bank account. 

It's adjustable based on size, erring on the side of generosity.

.🔹 Trust But Verify – Set up accountability metrics, KPIs, and reporting systems so you oversee performance without micromanaging.🔹 Know Your Role – Your job is to build and grow your portfolio, not handle every maintenance request.Final Thought: What’s One Thing You Can Let Go of Today?