I am admittedly a newb in the process of getting all of this set up for my first rental (so correct me if I'm wrong) as well but I have some IL-specific perspective to offer: From what I have read, as of 1 Jan 2024 in IL, landlords cannot exclusively accept EFT payment of rents (includes Venmo, Zelle, etc.) for leases starting on or after that date.

Once the above skills and tools are acquired, understanding the sequential process of the development along its timelines and costs needs to be correctly implemented.

Correct me if I'm wrong but VRBO is very clunky and not very host friendly.

If I had been tracking the assets via accounting, I would simply make a journal entry showing the LLC's assets and liabilities going to zero and transferring them to the Holding LLC or the LLC Members. correct accounting only and yes there are bank accounts (of course)

I think Natural Gas dryers have 110V outlets but electric only dryers are 220V w/30 Amp breakers, if I'm remembering correctly. 

Quote from @Joe Villeneuve: Quote from @James Hamling: @Victor Tofilski I can't tell you exactly why it hasn't leased yet but I can pick it apart and give you detailed road map of every deficiency I notice and how to correct. 

If things go wrong on a $500K flip vs $1.5 million flip it is much easier to correct and you risk of losing money or not making the profit you want is quite a bit lower.

Please let me correct your first statement: Sellers "PAY" the buyer agent commission because that is most practical.

You are correct; I made an assumption that we wouldn't be able to sell through a realtor based on the factors against us.

If it were 2007 all over again and you knew you could sell at a record high, and invest your capital into conservative bonds and wait until the market corrected, would you?