It seems like the IRS is simply giving me as the organizer, or managing member the ability to choose one or the other scenarios, with either a clause in the operating agreement, or written on the Articles of incorporation/formation, or simply by a Members Resolution.

Since my post, I've learned the IRS default for a single member LLC is to give it disregarded status upon formation.

My virtual assistant saves down all of my receipts in the "Date - Amount - Expense Type" format in a folder for each property so we can easily identify which receipt is for which expense. 

Hi There,I am going to create my LLC. I am US citizen living in Europe for now. Where should I create my LLC, considering that I am going to do wholesaling for the first year? Should I create an LLC in one of the stat...

Population growth is expected to be flat over the next few years, potentially constraining household formation and storage demand.Market OutlookThe Los Angeles self-storage market is projected to improve gradually over the next few years:- Vacancy rates are forecast to decline from 11.6% in 2023 to 10.5% by the end of 2024 and further to 9.4% in 2025.- Asking rents are expected to grow by 1.0% in 2025 and 1.2% in 2026, a turnaround from the slight decline projected for 2024.- New supply is expected to moderate, with inventory growth slowing from 5.4% in 2024 to just 0.5% in 2025.While the market faces near-term headwinds from slow economic and population growth, the moderation in new supply and gradual absorption of existing inventory should support improved market fundamentals over the next 2-3 years.

This reminds of the argument that with people are having less children and family formation declining this is bullish for bitcoin. 

But you get the idea, and, hey, it's the IRS own format!]

Thank you for putting it in such a format.

That way you obtain the liability protection of each property owned by a separate, independent entity, yet only incurr the formation and operating costs of one entity.  

Hi everyone,Looking for some advise.I am thinking of selling my 2 rental properties and quit real estate investing (at least in current format).