I heard some lenders would consider future rent that I will collect from the property even if it’s just 7-80% of it, and when I talked to two mortgage lenders so far they said it won’t be counted until I actually have the rent come into my bank.

In the future, NEVER give up financial control for something that you are responsible for filing the taxes on. 

Hi Edgar, in your specific case, the thing that scares most is that is a very old building with HOA and risk on future special assessment. 

You will not be taxed from this alone, and if you go to sell in the future you can enjoy most of the gains tax free because of this.

With your resources, once you find the right property, you’ll be in a strong position to flip and build capital for future investments.When you flip, please talk to your tax advisor about whether you are ready for an S-Corp and/or whether you should operate under the same entity as a construction company.

The individual’s only interest in the reporting company is afuture interest through a right of inheritance, such as through awill providing a future interest in a company. Yes  NoNote: Once the individual inherits the interest, this exception no longer applies, and theindividual may qualify as a beneficial owner.

Sweet job and great to know for the future!

None of this is legal advice on how to structure your LLC, but just pointing out future hurdles you may have.

@Spencer PerronYes, I would definitely have concerns about future financing as you mention.  

In future deals, I would opt for financing to maintain liquidity and maximize my investment potential across multiple properties.