I've previoulsy focused on flipping houses and residential sales but now that I'm in Florida full time I'm strongly considering starting my own property management company for residential leases.

However, it could be a conflict of interest between the MLO and the sponsoring company.

In my firm, we underwrite the Sponsor as a company in addition to their individual offerings.

Shouldn’t the title company have caught this earlier?

As these sub single member LLC will be disregarded for the IRS the only tax return will be for holding LLC.The piercing of the company veil is a concept that if you don’t treat your LLC as a separate entity (failure to maintain its documents, registration, commingling of money, not signing as the LLC, etc...) it will show a judge that the LLC was only your alter ego and he would deny any of its liability protection (inside and outside).California is a state that requires that each LLC owned by a resident or doing business in the state has to pay a $800 franchise fee.

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you might also have-local registration fee or business license or similar-shared utilities that the owner is responsible for

@Laura Higgs I would recommend an established company-especially if you are new to the industry.

The project will start soon, and I believe it will take that long for the construction company to complete the work on all the buildings.I have landlord insurance with State Farm, which includes coverage for loss assessments that should cover this amount.

I have transacted with them as well; by far the best out of the turnkey companies IMO.