Without a doubt, this should be researched before making a decision to incorporate, form an LLC, or operate as a sole proprietorship.

In a case like this, should my offer price simply incorporate this projected expense or is there a better way to determine whether or not a drain tile is necessary before making an offer?

However, do stay with the LLC entities, maybe with a managing LLC, or do you incorporate at some point?

- Ideas for Features we could incorporate - Quirky things or ways to make it better.- Any other thoughts.

OR one thing you could do - get on of the Ugly ones and do a 203K loan - which is a government backed loan that allows you to incorporate the fix up costs into the price you pay for the property.

I also am finding myself in this vicious cycle of learning what I need to do to build a successful business, but not having the resources to do the simple marketing, incorporation, etc., necessary to secure a deal, which I can then JV on or wholesale to build capital, to then build rapport and be taken seriously by the industry at large.

Meaning it doesn't exist separately unless you elect for it to be treated separately.An LLC can be taxed as an S-corp, C-corp, sole proprietorship, partnership, association, etc.I would not worry about incorporation yet because Illinois is expensive to do so in.

Ive read you can do it if you keep the articles of incorporation vague.

I love ceramic tile.

Mostly because tenants can destroy anything, even ceramic tile.