When filing the LLC return, it is important to ensure that these liabilities are accurately reflected on the balance sheet.However, it's essential to note that distributing the refinance proceeds among LLC members could potentially be viewed as a taxable event if there is no intent to repay these amounts to the LLC.

While most of his experience is with new construction rather than remodels, he’s already given me a few pointers and is looking into potential referrals for me.

Any advice on how to navigate this while keeping the deal intact or potential transfer of partners would be greatly appreciated!

STRs have a huge earning potential but it's definitely something that takes a lot of time, patience, and effort these days.

Your answer needs to make sense, and be true.Also refi'ing your current primary into an investment loan also has the potential to be fraudulent if your family still occupies it as their primary. 

I think I've bought 10 houses (primaries and investments), and I've had that same "Oh crap, my chest hurts, why did I think this was a good idea?"

@James Wise gonna have to disagree with the "lie cheat steal" concept regarding residents.Any resident has the potential to be less than desirable.

. $10k in debt does not seem like it is worth filing bankruptcy as you also will have the filing fees to file bk and if you use an attorney it could be another $5k, To me if you can save $10,000 a year then start saving and pay off that debt, as filing bk will hurt your credit wehere paying off these debts will improve your credit.

Hi Daniel,Refinancing out of a high-interest bridge loan can be challenging, but you have a few potential options based on your equity, tenant situation, and FICO score. 

I’m looking to connect with those of you who are actively using or interested in the BRRR (Buy, Rehab, Rent, Refinance, Repeat) strategy to scale your rental portfolios.Whether you’re new to BRRR or a seasoned investor, I’m here to discuss best practices, potential local opportunities, and ways we can collaborate to make your investments efficient and profitable.