@Andreas Mirza @Bobby Sharma All kidding aside, investors don't realize that some of the small suburbs surrounding Chicago have building and transfer restrictions that would make Chicago blush.

they are kidding themselves one needs to punch in 50% to 55% of gross cash flow for expenses then deduct your mortgage payments.. anything less than that will not play out over the years.

The only time we use ceramic tile is for showers with a window, where we can't use a surround, and then I will still use LVT for the bathroom floor.However, because we cater to families with kids, our winters are long and to avoid cabin fever we usually have a finished basement and carpet is the way to go.

Also any losses from Y will flow into Parent Holding X for tax purposes and such losses will be adjusted towards active income.7) Use a revocable trust to replace us in the ownership chain to avoid probate issues and easy inheritance to our kids.

Family status is the protected status that trips up most people, with comments like great family home, great neighborhood with lots of kids, this is the ideal place to raise children, etc. are clear violations of fair housing rules.

As time has gone on - 19 years - I've realized that this is also a great generational gift to my kids - both as vacation destination and a lifetime income for them.  

I started in Real Estate investing in 2013 when my daughter went to college ( first investment was student rental), i still own that house and several others in the town, not all student rentals. i look at this as my retirement in the near future and my kids inheritance should i ever pass.

I put in $50,000 of my own money not to mention months away from my three kids while working on the home. 

If you want an LLC especialy out of state for "Privacy" don't kid yourself.

May I remind you that Trump declared bankruptcy 6 times, yet he gets praised as an astute businessman but this kid is a moron?