The problem is I sacrificed my retirement money to do so.Ive been unemployed for 5 years and want to avoid going back to work.

.💡 How do you keep rehab costs under control and avoid surprise expenses?

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

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I’ve seen both approaches, but I’ve found that keeping the OTA house rules simple works best to avoid overwhelming guests.

Hopefully someone with tax accounting knowledge can jump in here with more detailed analysis, but I looked at this a bit several years ago...1) You still have to pay the depreciation recapture on the sale decreasing the net benefit of this approach due to the large tax payment in the 'sale' year2) The LLC would need to not be a passthrough entity so that it can be taxed separately from you, so you have to add another tax return cost for the years going ahead3) Taxing it separately from you likely means corporate status and corp. taxation rates which are higher than yours and I've heard many times over the years to avoid titling real property as a corp...Overall from what I've seen this only makes sense in a select few scenarios, which for most people aren't in play. 

If you own a business, now is the time to get ahead of key deadlines to avoid IRS penalties and maximize deductions.📅 March 2025 Tax Deadlines:✔️ March 17 – S-Corp (1120-S) & Partnership (1065) tax returns due (if not filing an extension).✔️ March 21 – BOI (Beneficial Ownership Information) Reporting Deadline – New requirement for many businesses.✔️ March 31 – Final deadline to correct & e-file 1099 forms before penalties increase.💰 Tax Deductions Business Owners Shouldn’t Overlook:🏠 Home Office Deduction – If you use a part of your home exclusively and regularly for business, you can deduct a portion of rent, mortgage, utilities, and internet.

So, you can put them in an LLC that you own 99% of and your wife/partner owns 1% and put all the properties on a 1065 Partnership return.If you have enough insurance, the proper coverage and avoid "dumb" mistakes that void your coverage, you don't really need an LLC.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Consult a tax pro to avoid IRS issues!