It's also just easier administratively.

Just my opinion but one residential property per LLC is an overkill in my mind and just ends up costing a lot more money down the road in administrative / accounting fees. 

The police never reached out to me.Fast forward 10 days later and I'm getting a notice that I have to appear for an administrative hearing because I was "allowing" gang activity to occur and jeopardizing the safety of the community.

Check with your plan administrator for the details of your specific situation.The IRS rules allow for a certain amount of flexibility in this area, and most plans do not have pre-payment penalties.Keep in mind, however, that you put the money into the 401k pre-tax.

Other hidden costs you need to consider when evaluating HM lenders:-Applications Fees-Administrative Fees,-Commitment Fees-Underwriting Fees-Origination Fees-Loan Servicing-Rehab Draw Fees-Inspection Fees-Interest paid on undrawn rehab budget?

Under contract with a public builder and ran into a delay (due to close last November) when the city administration completely turned over and changed course at the exact time we submitted our DA. 

Let's break down the pros and cons of each approach:Forming an LLC in the State Where the Property is Located:Pros:Compliance with Local Laws: Establishing an LLC in the state where the property is situated ensures compliance with local regulations and laws specific to that jurisdiction.Legal Clarity: It provides clear legal jurisdiction and may simplify any legal proceedings related to the property in that state.Perception: Operating with a local LLC may give tenants and local authorities confidence in your commitment to the community.Cons:Additional Costs: Setting up and maintaining an LLC in another state means incurring additional registration fees, taxes, and possibly hiring local legal counsel.Administrative Burden: Managing multiple LLCs across different states adds complexity to your administrative workload, including extra paperwork and compliance requirements.Tax Implications: You may face tax obligations in both the state where the property is located and your home state, potentially leading to double taxation or complexities in tax filings.Managing Through Home State LLC:Pros:Simplified Management: Handling all properties under a single LLC streamlines administrative tasks, reducing paperwork and simplifying tax filings.Cost Savings: Avoiding the need to establish multiple LLCs in different states saves on registration fees, legal expenses, and ongoing maintenance costs.Consistency: Uniformity in management practices and legal structures may contribute to efficiency and ease of operation across your real estate portfolio.Cons:Legal Exposure: Operating out-of-state properties under a home state LLC may expose your personal assets to the laws and liabilities of the other state, potentially diminishing the liability protection the LLC offers.Compliance Challenges: You'll need to ensure your home state LLC meets the legal requirements for conducting business in other states, which could involve additional filings and fees.Perception and Credibility: Some tenants or local stakeholders may prefer dealing with a landlord who has a local presence, which could impact your reputation or relationships in the community.Ultimately, the decision depends on your specific circumstances, risk tolerance, and long-term goals.

The $15,000 might seem steep but when you calculate sales commissions to employees, closing commission to deal coordinator, administrative fees, marketing and the "opportunity cost" off not selling another property we own, we actually don’t make anything)Those are pretty much the options at hand."

Other hidden costs you need to consider when evaluating HM lenders:-Applications Fees-Administrative Fees,-Commitment Fees-Underwriting Fees-Origination Fees-Loan Servicing-Rehab Draw Fees-Inspection Fees-Interest paid on undrawn rehab budget?

I'm a numbers person with decent negotiating, project management, and administrative skills, and I was counting on those talents plus some education to be enough to get taken seriously.