Otherwise you can break the limited liability benefit (if operating as a LLE).

If you plan on selling other people's houses you can charge for that with a license.If you are only selling your own houses, there is no benefit...but there is substantially higher liability.

Mortgage: The deed reflects ownership of the property, while the mortgage reflects liability for the loan.

This can significantly lower your Adjusted Gross Income (AGI) in the year of the loss, reducing current tax liabilities.3. 

Creating an LLC: Forming an LLC may offer liability protection and help with structuring multiple properties, but it doesn’t change your ability to take rental property deductions or depreciation.

In Florida, land trusts offer some unique benefits similar to an LLC, such as asset protection and anonymity, which makes them especially appealing in creative real estate deals.While LLCs are often more widely used because they’re familiar to investors and offer clear liability protection across multiple states, land trusts can be highly advantageous in Florida due to the specific protections our state law provides.

Here are the numbers I know so far:Rents4 units all currently occupied on one year leases- #1: 1/1 $995 monthly- #2: 1/1 $995 monthly- #3: 1/1 $995 monthly- #4: 2/1 $1,100 monthly- Gross rents: $4,085 monthlyExpenses- $12,070 taxes annually- $350 monthly insurance (my estimate, they have liability only right now)- $175 monthly landscaping- $120 water (electrical on separate meters, tenant pays)- Total expenses: $1,651 monthlyNOI around $2,434 before vacancy, maintenance, and management (although i would likely self-manage these)Property needs about $50K in other repairs and udpates from what I can see.

Landlord Insurance: Get coverage for damages, liability, and rental income loss.This post does not create a CPA-Client relationship.

You have liability insurance on each property don't forget and then I have an Umbrella Insurance policy on top of all of my rentals.

You open yourself up to too much liability.1.