Quote from @Abhijit Roy choudhury: Financial Crime enforcement Network, requires reporting of Beneficial Ownership Information filing by 01/01/2025.Does this apply to us, Rental LLC owners.

I have no desire to be part of any lawsuit or liquidation event.

Syndication Reporting IssuesMissing Form 8918 for reportable transactionsInconsistent investor disclosuresRequired registrations skippedWhat Doesn't Actually Matter:(Despite What Your Uncle's CPA Says)Special AllocationsNormal promote structuresStandard waterfall provisionsTypical developer promotesReality: Unless extremely aggressive, IRS rarely caresTechnical DocumentationMinor §704(b) gapsCapital account glitchesTechnical allocation languageTruth: Unless hiding something biggerProperty Value AllocationsNormal basis step-upsTypical appreciation splitsStandard promote calculationsReal World Example:🏢 100-unit apartment complex4 partners, $5M dealDeveloper promote structure= Zero IRS interestSame Deal With Red Flags:🏢 100-unit apartment complexHidden partner arrangementsArtificial loss allocationsUnreported debt shifts= IRS AttentionPractical Protection Steps:Basic Documentation✅ Clean operating agreement✅ Economic substance✅ Partner contributions tracked(Don't need War & Peace complexity)Economic Reality✅ Allocations match economics✅ Real money movement✅ Actual partner participationClean Reporting✅ Consistent K-1s✅ Required forms filed✅ Clear communicationThe "Sleep Well" Test:Can you explain your structure to an IRS agent without sweating?

Texas law has certain requirements, as I'd assume most all states do.Do you have any links to the type of locks you have used for the front door, back door and door leading to the garage?

I've found an off-market property that would require $175k purchase, $35k down, $20k in repairs, with a conservative ARV of $235k. 

The nuances in state regulations require an expert who understands how to expedite the process within the legal framework.

Tax law requires it.

Both these properties have mortgages and they both are required to have insurance on them.

A lot of the popular areas in Charleston proper that are not licensed under the old laws now require the owner to live on the premises to obtain an STR license.

In my experience in MO, land bank properties are very low priced (these are generally properties/parcels that weren't sold at the tax auction), but they often have significant tax liens on them that must be cleared in addition to the "sale price" AND they require a significant amount of rehab in order for the properties to be inhabitable.