There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

Without complete financials up to that point, extra work (and headache) will be required to get everything straight after years of failure to keep complete financials.There also might be an asset protection wrinkle by not maintaining complete books for an LLC, but I won't comment on that as I'm not an attorney.

Concentrate on finding a Real Estate brokerage that does investing as well.Good Investing...

We have been sharing a car since 2020 in different households when she worked from home and attended college online.She worked and studied, maintained good grades and was compensated for it via her school and the system.

It's easy to obtain, costs very little, and doesn't require extra, on-going effort to maintain.

I have a good agent I've worked with for years and letting him represent me not only gives me the advantage of additional counsel, it also gives me someone else to do the heavy lifting so I can concentrate on the deals themselves rather than the intricacies of the actual contract, the process of moving everything through closing and all the hiccups that often come with investment properties.

Hopefully he finishes this rehab in February as I hope to have him set up an out of town, large (over 3000’) luxury STR in the spring.When he completes that effort, we will be concentrating on getting him a property in San Diego which as everyone knows is very expensive.  

Since I’ve been syndicating real estate debt and a few equity deals for 25 years, I’ve made it my business to maintain a constant “overview” of the “product” being offered.  

Ensure the STR’s projected income comfortably covers new debt, even with conservative occupancy rates, and maintain reserves for market changes or vacancies.

Property managers typically belong to state or national organizations that continuously update their contracts and processes to maintain compliance.