There's nothing special about it beyond some added, very straight forward paperwork. 

Hello All,I am moving out of state and currently own 2 Bed 2 Bath condo that i have lived in for 4 years as of this month.Numbers Bought it for                $248K in Dec 2020 with $13K down (5%)                       $25K  Upgrades added

Recently they added a feature where you can text or chat.- You can create custom fields, which is great.

However, for every dollar put into the property, a net-new incremental share is added to the share pool; that share is then owned by the giver.

In this case, since they are borrowing their payments, these would get added to the principal balance each month, and interest would be calculated on that.If, for example, the interest rate on the note were 10%, they would implicitly be borrowing their payments at that rate.

If your goal is to scale, I would suggest running your numbers with property management costs included from the start.Also, if you plan on adding more properties soon, I would avoid anything that needs too much renovation upfront.

Also happy to answer any questions about the process if anyone's considering adding them to their marketing. 

What an investor gives up though is tax bene's and the chance ( well at least proforma wise) that you bought at X cap rate and can sell at Y cap rate and there is a big profit that is added on to your returns. 

However, you can file Form 8832 (Entity Classification Election) to change the LLC’s status to a disregarded entity, provided you act promptly.If you don’t make the election, you’ll need to file Form 1065 by March 15, 2025, adding complexity but retaining the same tax benefits, such as deductions for depreciation and repairs.

=)I came across this post while doing a Google search and wanted to chime in.I’m Mark Simpson, founder of Boostly, and I’ve really enjoyed reading through all the comments.