(I'm not a lawyer)But I think, if you want to do get better asset protection, you'd need both properly setup LLC and also get an umbrella liability policy.For what it's worth, I set up my LLC for $50 to get my articles of incorporation, I have a simple operating agreement that I got from the internet and I set up a different bank account.

Assessments are done at the county level by the tax assessor, and at the Village/Hamlett level if incorporated (the two numbers don't always agree). 

They are both inspiring and a reminder that even though everything doesn't always go as expected that is also a learning tool for future success.I also love all the ways you incorporated partners and partnerships - even including your spouses (My wife and I often joke that there real needs to be a support group for spouses who work together!)

My goal is to acquire cash flowing properties as a way to supplement my primary career in corporate finance (FP&A).

I do not think 1 property is worth incorporating.

In this case, how and when can we incorporate those expenses into our taxes? 

This would be included in the articles of incorporation.

Account ClosedWith the breakneck pace at which technology is progressing in the field of real estate (as in many others), it’s no surprise that agents and brokers may feel overwhelmed with deciding what to incorporate into their marketing strategy.Lead generation in particular can pose a challenge in the competitive real estate environment.

Since Hempstead is an incorporated village, there are village tax, school tax, plus county tax.  

5 years ago I was working in corporate finance and had always wanted to get into real estate.