Hi Kevin,I'm a licensed loan officer in the state of Florida, if you'd like to schedule a quick call, DM or email me!

Since our son will be living there, should we have him own 51% and we own 49% and put the financing in his name (with us as co-signers) to homestead it? 

In Texas, there’s no state income tax on rental income, but LLCs have formation and annual fees.This post does not create a CPA-Client relationship.

Parma, OH  (Great Pierogies and some top notch karate dojos) State Rd. 

@Nicholas L. yes absolutely, everyone should do their own DD. 

However, upon closer inspection, several red flags became apparent:Lack of Transparency: Despite claims of being a Georgia corporation, a search in the State of Georgia Secretary of State’s Division of Corporations database revealed no record of the company.

She sent me a letter from Commercial Property Advisors, Peter Harris, which stated she had approval for funds sufficient to cover the purchase price and below it listed a Wells Fargo business account showing funds in excess of the purchase price.

If you're planning on doing out of state investing, I would recommend a condo/townhouse.

As long as the lender can finance in the state that you want to buy in, then work with them.

I'm glad you have an umbrella policy for the first 10, but when you own them in your own name, a loss in one property can spill over to the others, and personally.