I'm wondering if I should create an account with Chase or a local bank for my business.I don't know the benefits from one to the other...All I'm looking to do starting out is to hold the money I generate from REI to the account.I would however want the bank to auto-deduct rent from my future tenants accounts in the future without paying an arm and a leg.I'd love to hear how you feel about the two!?

My loans are all on ARMs which we all know rates are going up.

It is explicitly stated to be a one year lease, the rental period is one year.

These are not 30yr fixed rates, usually ARMS or Balloon notes.

I tried using turn-key guys to get into a dozen markets at the same time - it didn't work out well as I was entirely dependent on them for results and most were just marketing arms with no muscle or real intention of delivering what they had promised.

Frankly, that website has red flags to me, some good information, but I also look to the meat of the agendas, techniques and methods and the equity stripping is in far left field, filing false liens, with entities not at arm's length can be trouble, it is not a tool to employ, hit bankruptcy court and you won't be looking at just state laws or assumptions or local politics from the bench.

They are 5/1 ARM, 20 year term at 5.5%.

Commingling funds and record keeping are the two biggest issue that can pierce the corporate veil, so if you are going to go to the trouble of setting up and LLC, then make sure to properly maintain that arms length relationship.BTW, I also recognize that you could be personally sued in my example, but a correctly structured entity exists solely for that reason and the hope is that you would easily win such a suit.I now feel compelled to say that I'm not a lawyer and this post does not constitute legal advice....

That being said, you have to set it up correctly and maintain an arms length relationship with the business in order to protect the corporate veil.

Armed with that knowledge you can become a rental baron within a few years.