Or it could be a "disregarded" LLC. 

The LLC's are disregarded for the purposes of filing taxes and simply go onto Sch E of your tax return (if they're rentals - you didn't specify).  

In your state of California, I would imaine it more likely for a judge to disregard your incorporation and hold you liable.

A single member LLC can be treated as a sole proprietorship (what the IRS calls a disregarded entity) or as a corporation.  

If they are blowing off their recent bills, tell them once they learn not to have total disregard for credit , to come back and re apply. 

And this one just came to me yesterday.Correct me if I'm wrong (if I am, then disregard the rest of the thread), but you CAN buy an four-plex (or du/triplex) with an FHA loan if you take up residency?

Please disregard, Thank you Manolo.

An LLC is an LLC, so I'm going to go on the assumption that you mean how it should be taxed: as a partnership, a corporation, or as a disregarded entity (which would pass through onto your personal income tax return(s)).That question is best answered by talking with your son and your accountant; the three of you should quickly come to the choice that works for you.

While I agree that you should buy on the cash flow of the building since this is inline with your strategy I don't agree that you should disregard value.

Be aware that unless you are licensed yourself an agent won't be able to legally pay you a referral fee.They can do something to work around the law but cash will be blatant disregard of it.