Hi Victoria,To sell your property and notify your month-to-month tenants, you should provide them with a written notice to vacate.

This separation helps in maintaining clear financial records and simplifies tax reporting and financial management.Setting up an escrow account specifically for rental income within your LLC can offer several benefits:Financial Clarity: It separates rent payments from other operational expenses, making it easier to track income and expenses related to the rental property.Legal and Compliance: Helps in demonstrating that rental income is kept distinct from personal or other business funds, which can be important for legal and tax compliance purposes.Tenant Transparency: It provides transparency to tenants and other stakeholders regarding where rental payments are deposited and how they are managed.While it may not be a legal requirement in all cases, maintaining an escrow account specifically for rental income is a prudent practice that many experienced investors and landlords follow.

The rental property itself provides the tax benefits and not necessarily the entity structure.Depreciation should wipe out your cash-flow from being taxed, especially given the high prices of properties right now.You should have your tax returns reviewed if your properties are reporting positive taxable income.

I appreciate any advice you could provide. 

First, consider a Home Equity Line of Credit (HELOC) on your condo, which can provide a flexible, revolving line of credit based on the equity you have built.

How accurate is the data provided by AirDND in terms of price and occupancy or do you use a different website to analyze deals?

Hampton Roads is indeed a unique market with its military presence, providing a steady rental demand and some interesting investment opportunities.Looking forward to learning and connecting with you too!

I'm not familiar with the Scottsdale rental or retail market so that might also impact your decision.

Additionally, borrowers should be prepared to work closely with their lenders and provide the necessary information and documents in order to get approved.

., we don't provide any tax services.