Be ready to explain the benefits and address concerns confidently.

Quote from @Victor Yang:In addition, is it possible for me and my wife to gift 36k worth of equity per year of the house (under the annual exclusion limit) and therefore have none of the costs go towards the lifetime gift limit?

Additionally, forming a new LLC may require obtaining a new EIN and business bank account.This post does not create a CPA-Client relationship.

It will familiarize you with the basic terminology and benefits.

Many investors budget an additional 5%–10% of gross rental income for CapEx, though this too depends on the property’s condition and the age of major systems.

Additionally, there was no business license registered in the City of Atlanta.Suspicious Communication: The individual identified as Chris Anderson had a heavy foreign accent and provided convincing but dubious claims about the company's legitimacy.Questionable Financial Arrangements: Upon loan approval, the wiring instructions directed the loan fee to a Capital One checking account under the name of a supposed loan facilitator—a 85-year-old woman in Florida.

Spokane has recently changed zoning and development policies to be much more friendly to making additions so you won't be fighting too much red tape.

I currently have a homeowners plan with Allstate and plan on asking them if they have something like a short term rental rider plan that I can add in addition to my current plan.

Most look at a Certificate of Insurance and confirm coverage limits but best practices are to (1) become added as additional insured under contractors policy and (2) understand coverage exclusions which are not going to be detailed on an insurance certificate.

Just one additional option.