If you are sole member LLC you just take a distribution from your business account to your personal account.You are likely already reporting the income on a schedule E.

If your goal is passive income, it's not going to be in New Jersey when you factor in cost to purchase, management costs, and rent to price ratio, but what you can get is steady appreciation.

.: There are sources to obtain the financing you want to buy more property.

So, when Trump changes to no tax on tips I feel inclined to change my rental income structure.50% reduction in rent.Previous 50% made up from a mandatory nontaxable tip. 

So the problem is you wont be able to source the down payment as coming from the seller (most likely), but you can certainly add as many junior lienholders as you like, after the fact.

At best, you will add another income stream to your portfolio.then your looking for someone like me.. 

So, if you have 10 units and you are going to pay $1,500 a month and you are working on an active income job, too, this is an easy switch due to the labor mentally and physically (even if it is just phone calls) to get these rentals running as a well-oiled machine.  

Some may require a waiting period of one to two years before leasing is permitted, while others may prohibit rentals entirely as outlined in their bylaws.Always know the property’s potential for annual rental income and ensure the numbers work.

What are the best sources or methods you use to accurately set rental rates in your area?

The returns will likely be greater if you source the borrower and originate on behalf of the IRA.