My corporate office is right in downtown Chicago we have seen condo purchase go out over the last 12-18 months. 

Would this contribute to Piercing the Corporate Veil?

So I would tell you that 2-5 rentals is a piece of cake to manage - even if working full time (we kept 2 corporate jobs until we were up to 20 rental units.)The other thing I would tell you is that there are MAJOR control differences between being a limited partner in a syndication - where you are more akin to a passenger on the bus which is your investment, versus full control of everything when managing your own rentals.  

For business owners, having a separate legal entity, such as a corporation or limited liability company, provides the unique ability to create a credit identity with business credit reporting agencies, also known as a business credit profile.Reality check:  > Funding your business with your home equity or personal savings/guarantee is a HUGE risk  > ~45% of Small Businesses applied for a Business Loan in 2023  > Less than 2% of SBA Loans are actually funded/approved  > 29% of Small Businesses FAIL because thee run out of Capital  > Your company’s name on a credit card is NOT corporate credit (if you used your FICO score to get it)  > Business (EIN) credit will open new ways to finance your growthIf you keep doing what you've always done, you'll keep getting what you always got!

The corporate veil is a real thing; no need risking law suits or audits if you can use legal structures intended to protect you.

The original property manager was a local company and then they were bought by a larger corporation.

Did you guys figure out which forms to fill out for the New Corporate Transparency Act (Fincen)?

Yes, the Beneficial Ownership Information (BOI) reporting requirement, part of the Corporate Transparency Act, took effect on January 1, 2024. 

Folks vote for no more STRs, they are gone and you are out of luck.If there is a large block of condo's owned by a single entity, like a wealthy family or corporate entity, you are also in the same boat.

I'm working with a local Atlanta investor, someone I've known from corporate since 2011.