Look for properties with low taxes, separate utilities, strong demand, and potential for rent increases.

I am a rental property investor but i hate making things complex and the last thing i wanted to do was create a separate bank account for each property..yikes.

We have a few properties that are held as JV's in separate LLC's and just want to make sure all is above board.Thank you, and Happy Holidays! 

We have a partnership entity, so it has to file separately and needs balance sheet accounting.

Can we start a separate Maryland Crab Cake thread!?

Luckily both sites collect the taxes for our place.Our little town did implement a 1% tax that I have to pay separately.

But as soon as you make a direct booking site and start an escrow account (among other things) you then cross that legal boundary between a co-host and a property manager needing a broker license (depending on your state).We CO-HOST for others and remain separated from those legal parameters that would consider us a property manager.

You may pay 1.5m and up for a good one, likely more if parking and balconies, but the play is to buy a multi and then wait and in a few years, turn them into condos and sell them separately - that's how you make the money there.

It keeps each set of books separated and allows for quick analysis of each building.

That said, I personally don't think $22K/yr gross x 6 separate dwellings are good numbers for an $800,000 investment, not to mention costs for furnishings and such.