I created a LLC and created a DBA for the counties that I have my rentals in.

Of course when you purchase under a business such as a LLC you remove yourself as being liable but I want to know what the downfalls of purchasing under a LLC/Corporation are.

He is technically a limited partner but I have no LLC (I can set one up though) and he doesnt want equity in the business itself.

As I understand it, you cannot 1031 into a traditional syndication because it violates the like-kind requirements, as your Relinquished Property is real property, and your new ownership interest in the syndication LLC is personal property.I've heard previously that the workaround here is to form a TIC or a DST to hold your 1031 interest, since this is treated as having an ownership in real estate interest in the eyes of the IRS.

@Steven Hamilton III had a CPA advise me to start with an S-Corp initially and later I could form an LLC to absorb the Corp when (if?)

The HML will pay for the purchase and the renovation if the purchase price is less than 65%, which it is, but they will only fund the project as a business loan for an LLC.

Of course when you purchase under a business such as a LLC you remove yourself as being liable but I want to know what the downfalls of purchasing under a LLC/Corporation are.

I'm currently in contract on a property (2-4 unit) with a non-qm lender.Since this lender is not adhering to Fannie Mae guidelines, I am looking to close the property in an LLC.

Even with an LLC it'll go through your personal taxes on a schedual e.

in your name or the LLC that owns the properties?