Other than the 1 property I am renting my family's taxes are pretty straight forward with a couple W-2 and no LLC, so when I got the $1,700+ quote for tax preparation it seemed a bit much.

@Vidit Maini Starting your business as an LLC taxed as a C corporation offers flexibility but involves double taxation unless you elect S corp status, allowing profits to pass through to your personal return.For tax savings, deduct startup costs, track business mileage or vehicle expenses, and consider a home office deduction.

(120k total)2nd house we are making a profit of 120k but this  "profit" would literally pay us back for our initial investments into our LLC together we used on the first house ...anyone have any idea how the gov.

A few reasons I choose to bank with them:-Very easy to set up business bank accounts under my LLCs-Option to create virtual accounts under each LLC.

To structure a partnership, consider forming an LLC where you handle property management, renovations, and operations, while the investor provides the down payment.

A FHA 203k Loan is where the purchase price and rehab costs are rolled into a single loan.Assuming you have a respectable FICO you can buy, with a FHA Loan (3-5% down, a 30 year amortization schedule, and a residential loan rate) AND because you closed personally, you will not have Asset Protection, in the form of closing in the name of a LLC/ LLC taxed as an S Corp, or an S Corp.

If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.

Now, should you move it into an LLC?

Have you considered the fact is you can invest up to 80% of the funds into a new LLC the next day or at any time all tax-deferred?

To navigate the nuance in the laws properly for compliance and to accurately structure our LLC, I am looking to consult with an attorney who knows immigration + business + tax laws.