Your taxes are computed and reported exactly the same as a single member LLC vs having it in your own name.An LLC is for asset protection and you'll want to talk to an attorney as to whether it's a good plan for you.Hint:  With no other significant assets in your name, this is probably not beneficial to you.An LLC buys you an annual maintenance fee and, if you're determined to buy the property in an LLC, usually a higher interest rate and higher down payment requirements.

Originally posted by @Scott Wolf:@Jared W Smith currently working with PCSB on a deal in Hyde Park, going great so far.Thanks Scott!

You take the gross annual income for the property and then subtract all of the operating expenses.

I was on the agency bad boy list for about a year, but ultimately the deal was saved, and we ended up making a 18% annualized yield. 

Here are more details:First opportunity is a buy and hold 4-unit property in Yonkers, which could be a good option to walk into as a first time buyer as I will start off cash flow positive, but it's in an area that will not see as good annual appreciation as the 2nd opportunity.

Here are more details:First opportunity is a buy and hold 4-unit property in Yonkers, which could be a good option to walk into as a first time buyer as I will start off cash flow positive, but it's in an area that will not see as good annual appreciation as the 2nd opportunity.

So higher interest for sure but money still available, if you are not over leveraged and have access to capital you can keep the wolf from the door; anyway that's how I see it. 

Entities must be registered with the SoS, and annual information filing should be easy enough to get for a buck. 

After it was flipped and sold last year, its assessed value shot up $90,000, causing an increase of $4,000 annual taxes.  

After it was flipped and sold last year, its assessed value shot up $90,000, causing an increase of $4,000 annual taxes.