No Personal Use: You or family members cannot live in or personally use the property.2.

My wife and I have overhauled our personal budget to reflect the 'pay yourself first' approach (allocate in order: income comes in -> invest -> donate -> fixed expenses -> variable expenses -> fun $$).We are looking to see what experienced people generally recommend for a holding tank for that 'invest' allocation while we target our first real estate deal.What financial vehicles have you guys used that works well for this?

The challenge was balancing the relationship between landlord/tenant and a personal/friendly relationship.

I heard that if you move the personal mortgages to an LLC they could get called and we would want to avoid that3.

Do you own these properties in your personal name or through an LLC?

This person (not Blake capital) was trying to bully me (wrong move).

I am personally very bullish on the Phoenix market.  

The first is that there's no consensus between tax professionals, and the second is that you will not like my personal interpretation.My interpretation is:Until the property is "placed in service" - everything goes into basis.Illustration.You buy a property July 1st.You finish rehab November 1st and put the property on the market.Your tenant moves in January 15th.The property was placed in service November 1st, and it does not matter that the tenant did not move in until the next year.Everything paid between July 1st and November 1st, including interest and utilities, goes into basis.

Well, three top reasons come to mind:It will allow you to deduct their earnings on your own tax return.It is required by law for any person to whom you paid at least $600 in 2023, total.

All the add-ons are a la carte so you can definitely get a lot of value based on what you need.One thing I personally don't like is that when tenants pay rent, they are charged $1 per transaction for ACH use.