My partner is a builder in the LA area and his client posed an interesting question for him that could affect financing in the future. 

Dscr will be useful in the future for fixer uppers and unique buys. 

If you expand your rental business in the future, an LLC may be worth considering, but for now, keeping good records and securing appropriate insurance should provide adequate protectionThis post does not create a CPA-Client relationship.

A reliable property manager and CPA are worth their weight in gold, especially when you’re managing remotely.If you’d like to chat more about what’s worked for my clients or have questions about specific markets, I’m always happy to share insights.

We are looking to building some fourplexes in the near future in the area - when you say expand your portfolio - what are you looking for ?

With hopes to build two additional cabins in the future.

Quote from @Rose White: When is the best time to ask your new / possible future tenant for a background check?

(This is a theoretical future).  

Letting someone out of the lease is not the same as nullifying that the lease ever occurred; it is just an agreement that you won't go after any additional months of future rents that would otherwise be owed.

- Regardless of sale now or a 1031 sale in future years, I would like to take the equity into new real estate opportunities.