Just make sure you draft an operating agreement that outlines responsibilities and expectations.For financing, and if you choose to go through an LLC, DSCR loans will be a great tool.

Hi Lynette,It’s great to have 20+ years of experience in residential construction, drafting, and design those skills will serve you well in flipping homes or building rentals.

As others have said have a lawyer draft up the agreement.

My attorney is drafting a contract.

Rent payments from the medical LLC are fully deductible as a business expense, while the property-owning LLC will report the rent as taxable income, which can be offset by deductions for expenses like mortgage interest, property taxes, maintenance, and depreciation.To ensure compliance, document how FMV was determined—using market comparisons, an appraisal, or similar data—and draft a formal lease agreement outlining the terms, rent amount, and responsibilities.

These include drafting offering documents, adhering to ongoing disclosure rules, and audits, which can easily run tens or hundreds of thousands of dollars.

They tend to be the ones posting religiously on linkedin the benefits of garbage investment strategies in order to continually feed their business and have poorly drafted operating agreements often with side letters that are really  only necessary to hide from their lenders where their capital is coming from. 

@Zack Whiting Straight off the rip I would draft up leases for these properties and get everyone on a MTM lease.

From not having an attorney draft the docs, to trying to cheat the system with the deed in lieu to not professionally servicing the loan.

Your goal is to get a tenant who can navigate an online portal for maintenance request and paying rent online.