Do my 3 associates need to create a LLC to be able to do these renovations or can any individual do them, as long as proper permits are pulled? 

These services help identify any red flags that an individual review might miss.Regularly Update Rental Criteria: As fraud tactics evolve, so too should your rental criteria and screening processes.

There will likely be a partnership return required where you flipped a house with a partner and lost $120,000.If you sold the other property within the same partnership, it will also be reported on that partnership return.The net result to you is that you will receive a K-1 showing your income / loss which you then use to report on your individual return.If you made no money within the same year, you likely pay no additional taxes / get no additional refund.Best of luck.

Quote from @John Morgan: I’d do individual cash out refis on them to scale up.

Others are owned by private individuals and are for profit ventures, often affiliated with their other business ventures. 

While I’m still in the early stages, I’m incredibly motivated to learn, grow, and surround myself with like-minded individuals who can help guide me along the way.What drew me to real estate is that I saw it as the best route for me and family to have financial freedom.

I love renting my 3 bed houses to individuals on disability.

Sam, a property this size falls into a very weird situation where it’s not an individual mobile home but it’s not really big enough to be considered a park. 

I’m here to connect with like-minded individuals, exchange ideas, and continue learning from this incredible community.

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.