Our first intuition was to get an LLC but we no longer thinks it makes sense for the following reasons:- Have to get commercial loans instead of residential, which have much higher interest rates- Have to get homeowners' and umbrella insurance anyway - we feel the risk of being sued while owning rental properties is lower than running other types of businesses if we don't cut corners on the rehab and have a good property manager - Large amount of filing and annual fees requiredAre we thinking about this correctly and is there another structure that would best suit us?

And they will add Wire fraud, filing false documents, tax fraud (when you take the tax write offs) and impersonating an intelligent human being.

You'll also want to ensure you have a good property manager to look after the upkeep of the property if you are not there to notice anything deteriorating or which may need attention.California is a sort of beastly state when it comes to taxes and filings.

Without proof and because of the 15 year clean history with the contractor (how well I knew the tenant would play-in here too), I would tell the tenant I do not believe the contractor stole the property, the complaint has gone on file, and I will be assuming innocence until proven otherwise, or until a second complaint from a different tenant is made.

I file taxes in Canada, so looking at the US market would simply mean filing again, but I imagine that's nothing too complex for an accountant to advise on.

Hello Guys,We have the opportunity to help a person we know redeem its parents house that they lost at tax sale to an investor 8 months ago.Attorneys seem to say there is a way to file a petition at the courthouse, pay the delinquent taxes and get the title back.

Over a few years, you would build a credit score, you would start to show assets, and you would have an income that shows up with the IRS (annual filings, paying USA taxes).

I recommend the OP engage with a competent CPA or EA to complete the filings. 

My attorney told me that I couldn't file the LLC with the state having a P.O.

Please let me know what you think, thanks BB.Andrew, You could elect Subchapter S-Corporation status for your real estate business, which means you would file both a personal tax return and S-Corp tax return.