Amazing how much the Buffalo market has changed, of course the politics and taxes havent and wont, why I moved to central Florida 4 years ago. 

Like most answers to a tax question, it depends.

Come tax time, this is very important.Now your LLC can be registered in any state that you do business in but check with that state.

Does having CHAP (tax credit) increase the value of the house?

Taxes won’t come into play until you sell. 

This takes awhile, but in the long run you can get your job costs to brass tax and not have anyone else tell you anything different! 

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.This example shows that while the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall annual loss.

The hourly wage Id earn on that after paying expenses and taxes would put me at half the median income for my metro area.

In advance I'm sure people will ask why I would have it under an LLC for my first property, of course liability protection but the main reason is Taxes, I'm not trying to have the added income from the property be on my personal tax returns.

Here are things that would not transfer with a sale:-2.5% interest- prop 13 property tax benefit is saving ~$40/monththese are awesome advantages that are tough to match   In addition you have achieve outstanding return from the appreciation since purchase.On the other hand, you have $300k of equity which places the LTV at ~65%.