I've seen too many bank owned properties for sale that were a result of an investor who didn't have cash reserves to ride out a bad turn and wound up losing the whole property...

Your LLC will go under your schedule C in your personal tax returns and be taxed in the normal fashion. 

I will ride the wave, but it is getting more saturated every year and more hotels going up increase competition.  

I thought I would start a thread for investors to discuss how they keep track of their investment properties, and track their historical performance.I think Im still in the 90's because I use an old fashion binder.

Hi Mike,Hang on you’re on the ride of your life!

She used to live in Philly so we were always a short bus/train ride away.

Basically, if you feel the IRA is acting in a fashion comparable to commercial businesses in the same field, expect to pay UBIT.UBIT comes from having an equity stake in a trade or business.  

@Zach Fairfield  best to get your funding lined up first in the Uber hot PDX market anything that is a can't miss will need to be closed in a can't miss fashion... you may just find yourself wasting a ton of your time and energy .just a suggestion..

Rent it to a friend and keep a room for yourself, airBnB, sell it on a land contract (not really renting and not really selling), etc.My guess is at year 4-5 you can go to the guy and offer a buyout at a discount and he'll bite anyway if he thinks you'll actually ride the 11 years out.

@Josh Caldwell  30 to 50% response rate on any direct mail be it stupid looking or slick defies the laws of marketing. .you must have some magic letters there .. or a bunch o derelict homes that people are very much wanting to get ride of.Never heard that kind of number beforeRyan Dossey