I have a few questions- "We started an LLC" "We purchased a property" Who are the legal owners of the LLC? 

And we had a large inground pool at our residence, really for the kids. 

Hi,We recently (Aug 2024) bought commercial land of around 2 acres. this was part of bigger commercial lot (around 25 acres) which had AG exemption and so the taxes that they paid was around $20 each year. we received a 'AG ROLLBACK' letter from the appraisal district that starting 2025 tax year, we will be taxed at it market value resulting in additional taxes, interest and possible penalities for 3 prior years.

What is the best way that you have found to tell them that you need labor & materials separate, so at tax time you can send them a 1099 for labor?

No matter whether you are looking at commercial or residential property, the deals that “pencil out” at OFFERING price are few and far between these days.  

They have a 3 bedroom unit coming too. 

@Tayvion Payton I have managed many properties in neighborhoods like this.

Things just require more ongoing expenses percentage wise out of state because you have to pay people to do everything for you and you will have a longer time building relationships with vendors even when getting decent referrals. 

I doubt after factoring all of the expenses/reserves you'd be at $1100 per month in Net Cash Flow but still way ahead of the expenses nonetheless.We have a duplex bringing in $2800 per month-expenses $1253-debt- $740(P/I) and netting us $807. 

1) Yes you have to disclose.