(3) no legal representation representing the interests of each side?

It’s crucial to have clear legal agreements in place outlining the future of the property and everyone’s roles.

Even a single-family home with a legal additional living unit could work if you can find the right property.Because you want a property that needs work, I would be careful not to take on something that is too distressed.

The only reason to create an LLC would be legal protection, and even that is very debatable, however I'm not an attorney.As for finding an accountant - you're in the right place.

[this will give you the absolute legal basis for the answers][6] Verify.

- Did you get professional photos and professional cleanings done?

Each state has different LLC costs and legal protections, so consider consulting a real estate attorney and CPA to structure things properly.

Additionally, structuring your investment in a way that provides legal and financial safeguards is essential to avoiding the types of horror stories we’ve seen all too often over the years.

There are legal reasons for all of these decisions.

The information shared is based on my experience and industry knowledge and should not be considered legal, tax, or financial advice.