That means you simple include their income on Schedule E.In Alaska it is $250 for the initial LLC filing fee plus the Biennial report is $100.Either way I recommend a good quality Umbrella policy.

Also, I've been meaning to open an LLC and get an umbrella policy. 

. $200 cashflow off the MLS after expenses (including property management and umbrella policy)?

Truly not much more to say, aside from also considering a rider policy (umbrella) if you feel the need to increase your coverage options.

I hear recommendations that I might want to have umbrella policy as well.

I thought about increasing my umbrella from $1 million to $2 million.

I never thought of the benefits to multiple LLCs within the investment co. umbrella.

I buy in my personal name to be able to cash out refi in 6mo from purchase at 70%LTV 30yr 4.5%Then if you want to put in an LLC or keep in your personal name and get an umbrella policy.

I have multiple properties in each LLC and also carry insurance on each property and an umbrella coverage for the LLC. 

.#3 Acquire plenty of insurance coverage and an additional umbrella liability coverage.Many thanks in advance for your thoughts and responses!