The property is livable, but I am account for a pretty significant turn in 4 - 7 years of paint, flooring, and any miscellaneous repairs that the inspector could have missed since it was occupied.

You are assessed interest but it gets paid back to the account and you get to keep it. 

Set up a Plastiq account. 

If you have the means to cover debt, you can avoid the accounts being liquidated.   

In my case, I will transfer the deed to the LLC, and have a business bank account under the LLC, and all the rental/expense will be using that business bank account.

Quote from Account Closed: Does anyone have a good software or tool specifically for sending quotes and estimates, I have heard good things about mortgage coach but its expensiveHey Account Closed, welcome to the BP Forum!

- The type of account(s) that hold your life savings is important in this decision (ie. savings, brokerage, pre-tax retirement, Roth retirement).

This is a question for your attorney and accountant on how you will manage the company etc.

s question -  I've seen accountants do this both ways. 

I actually had this account from years ago, before my Realtor days and before my mortgage lending days.