If the asset needs updating etc you may be severely limited in carrier options until upgrades are made.

The interesting thing is that an LLC is normally meant to hold 'business assets'.However, a house-hack is both a personal property and a business asset.Therefore, the question then is, is there any protection being given to you.The next is, if the LLC is jointly owned, is there a partnership return due, which is normally due March 15 of every year.

Might come out green overall but it’ll be close.bonus: if you’re willing and capable to do an excellent t STR, which I would budget a good $40k-$50k on the furnishing/design/decor (more if you are outsourcing it all) AND are putting down 20%+, you’ll be able to have a very positive cash flow asset.

I don't know about you, but in 30 years I'd rather be sitting on a million-dollar asset that I own free and clear (because someone else paid it off for me) that is generating multiple, multiple times the rent I was collecting when I first acquired it and in which I can fill a vacancy with a qualified tenant within two weeks because the area is so desirable that it can't keep up with housing demand than on some boondocks asset that I only purchased because it was the cheapest thing around and "cash flowed" $200 per month on paper but barely appreciated over the years and whose rent appreciation has marginally kept up with inflation and takes me three months to fill a vacancy with a "qualified" tenant who even then might get behind on rent because his hours were cut at the gas station 30 miles away (true story; my tenant worked at a gas station in Boron--only job he could find).Personally, I'm keeping my 4-unit in Santa Clarita and investing in development deals and notes until an incredible off-market deal lands in my lap (keep dreaming, Logan) or the SoCal market cools.  

People always want to save money by self managing, but just take a look at these boards- almost every tenant issue here, financial, emotional or otherwise, is due to an amatuer trying to self manage.

Traditional custodians do not handle alternative assets that aren't publicly traded.

DelayAsk for mediationAsk for financial counselingAsk for reinstatement and add the late charges to the back of the mortgageThis was years ago.

I know the McDonalds quip is sarcasm, but is your opinion that holding the rental in an LLC in order to protect other personal assets is not worth the cost or hassle?

Consulting with a real estate attorney or financial advisor experienced in such arrangements might provide valuable insights into making this deal happen smoothly.

You can do the size deal you’re READY to do, through your experience, education, knowledge, financial strength, borrowing capacity, investment capital and network.