While operating an LLC is fairly simple there are a lot of considerations to make.

In the end, the way to go is whatever the two of you work out as fair, just make sure it is clearly documented in the operating agreement.

Another city near me requires a permit for battery operated smoke detectors.

I hold an engineering degree as well as a masters and have worked the past 7 years in aerospace operations.

Do you operate in Milwaukee?

When you factor in the 50% reserve, this is basically saying that you take 50% of the top of the gross rents and save this for maintenance, repairs, and other operating expenses.

Equity REITs own and operate income-producing real estate, while mortgage REITs lend money to real estate owners and operators or deal in the acquisition of mortgage-backed securities or loans.

I have also partnered with Dave on several parks- though now that they are really operating as a fund, I no longer am partnering with them.

If so then here is the cash flow:$14,940 :Annual Rent- $1494 :Vacancy @ 10%$13,446: Gross Income- $1,345: Repairs at 10%- $2,110: Taxes- $1,163: Insurance- $ 336: Utilities @ 2.5% (Covered for vacancy)- $4,953: Total Expenses$ 8,493: Net Operating Income- $8789: Mortgage Payment of $732.38 x 12 Months- $ 296: Before Tax Cash Flow.It is going to cost you $25 out of pocket every month to own this property - that is if everything goes well.

If your home doesn't qualify for the home office deduction because it does not meet the 100% exclusively for business test, why can't it still be the base of operations for your business?