i would like to hear more about the alterations made to your home and why the tenant even received a refund.

If the owner uses the but it is really "just me" argument, the LLC may be considered the alter ego of the owner and limited liability protections afforded to the LLC (the PM company) may be compromised.

I wonder if altering a document without the other parties consent like this is legal?

If it were my space, I would make sure my cabinets + range = 52", and then I wouldn't have to alter the counter.

A coach that I currently have for my real estate business said one important thing to me regarding a business plan and that was, "it's just a road map and you will alter it as time goes on."

However, that technique raises several red flags in my mind:If the LLC exists solely to hold the primary residence, and has no real business purpose, I'm concerned that the IRS would rule that it's a "sham", and any tax deductions would be disallowed.Most likely due to violating the Economic Substance and Substance Over Form doctrines.If the LLC has some additional (real) business purpose (e.g. additional rental properties, or a commercial venture...such as selling office supplies), then the personal residence is in jeopardy in the case of a lawsuit brought against the LLC resulting from any investment or business property held within the LLC (e.g. slip and fall at a rental property).Even in that case, I'm assuming the residence would still be classified as personal property (even if held within the "business" LLC), so that any expenses paid (maintenance, repairs, etc) would not be deductible.Not to mention that mixing personal and business assets within the LLC creates additional risk for "piercing the veil" (alter ego) for any potential judgments.If they decided to proceed and ignore the above issues associated with using an LLC, there are additional issues:It's more difficult to get financing for personal property held in an LLC, and any financing would be at a higher interest rate.It's more difficult to get hazard insurance.They would need to pay the LLC (themselves) fair market rent, as tenants of the residence.They (as LLC members) would need to pay income & FICA taxes on the income (rent) received from themselves as tenants (resulting in double taxation of that money).They might lose their capital gains exclusion:If they keep it as a Single Member LLC (since they're husband & wife in a community property state), they could probably keep the capital gains exclusion, since the IRS typically considers that a "disregarded entity" (as long as the LLC has not elected to be treated as a corporation for tax purposes).

just from my perspective of 40 years at this over 500 houses owned rented at times and sold.I have only had tenants go nuts over security deposits.. and thats simple give it back LOL.maybe i am lucky.. but for me its good insurance is what we need.also if you have multiple members of an LLC that are true investors and you keep your books clean that does have some protection.the Hubby and wife or single investor who thinks an LLC or multiple LLcs will protect them.. that wont happen if the worse comes to pass.. they get pierced as alter ego.believe me you will get sued personally.. and you will spend an inordinate amount of money trying to isolate you from the litigation.. best to let your insurance company handle those costs right?

People have more work then manpower .... it'll be tough to find good contractors and unlikely to find cheap ones...With all that said it's still possible, but you're going to need to alter the generic strategy and get creative.

This virus may alter the way we think of gathering for the foreseeable future.

vibe than the life altering cash flow machines we try and generate here.