You can choose to report your income and expenses on Schedule C by electing to file as a Qualified Joint Venture instead of filing a partnership return.If you have created an LLC that is not in a community property state, and as husband-wife you are the only members, then you are a partnership and must file a partnership tax return unless you have elected to treat your LLC as a corporation for tax purposes.If you have created an LLC in a community property state, and husband-wife are the only members, then you are a partnership and must file a partnership tax return unless you have elected to treat your LLC as a disregarded entity or corporation for tax purposes.

We would like to learn about how we should have went about it so that we can purchase more properties, minimize mistakes, and reduce our reliance on corporate life.

The PM reported the update to me Friday night around 9PM, and we agreed the guests could not stay at the house and the property management company had another property to which they could relocate the guests for their weekend stay.

Your registered address not matching the duplex doesn’t affect taxes, but updating it for consistency is advisable.

If long-term rentals don’t cash flow, short-term or mid-term rentals (Airbnb, traveling nurses, corporate stays) might work better.

Mike for some reason my tagging is not working but i know Jamie Bateman uses podio and I believe has it connected with his servicing companies so information is updated on a regular basis.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

I can’t wait to share updates as I start this journey!

There's literally no advertising in the post at all, it's simply a news update on changes to UW guidelines...

It’s a great way to connect with investors and professionals in the Phoenix market who are active in residential deals.Looking forward to seeing how your journey progresses—feel free to share updates or ask questions as you dive deeper into the residential side!