If not you may be required to incorporate or sell.

I recommend a host of things from incorporating an official application process to collecting official screening reports including credit, criminal and eviction reports.

I will definitely incorporate this from now on.

I was sold in being incorporated and yes it's supposed to protect you as a person is what sold me HOWEVER when one of my managers got wrapped up in a frivoulous sexual harasment lawsute the my corperation got sued, the mangager was sued personally and I was sued personally SO I had to defend me the corp and the manager!

An additional not done by an architect will look like an addition; an architect will add space but incorporating it flawlessly so it looks like it was originally intended to be there.

I would love a quick critique by anyone lawyerly (@GregBoots) and with a little experience with California.I'm a California ResidentI have an LLC (#1) incorporated in Wyoming.  

Immediately useful tips would be on topics such as:  - Searching for and purchasing properties site unseen from afar  - Best way to incorporate using a property manager into cash flow calculationsThanks, David

If one way was perfect for everyone then everyone would do it the same way.By the way Sub S is an election that can be done in Corporations or some LLCs.

Land Trust planning for privacy, asset protection and to minimize FITGrantor forms an irrevocable Land Trust and conveys WA rental house into it.Trustee is a CA corporate entity.Beneficiary of the Trust is a NM LLC set up by Grantor as incorporator but not as member.The LLC has only two members, sons of the Trust Grantor.Does this arrangement allow pass through income to sons, and will they receive a stepped up basis when they inherit the LLC via a grantors separate living trust?

They are great multiplicator of wealth when incorporated in your investment cash flow and also provide substantial death benefit for your family if you die early.If your estate will be substantial (over $12M for current estate tax exemption), and if you want to put some money aside for your kids now, you can also look at creating an irrevocable trust for each of them and funding them every year up to the gift tax exemption ($16k yearly currently).