Typically, banks offer a higher interest rate to LLC than Individuals so you can see why this might cause a problem.If you move forward, then you would just update create an entry to put the value of building/land in asset and note payable in liability.

There is help for many of the homeowners which would create a win-win for both investors and borrowers alike.

Should I resolve the old and create a new?

I would also include instructions on how to properly warm the flue and create a proper fire.

I've owned the property in my name for about a year and I just did a quit claim to transfer the property to my LLC that I created.

Lenders usually do not lend against real estate when the owner holds a tax deed because the tax deed does not create marketable title, or enable issuance of a title policy.Quiet title actions are court proceedings that ask judges to enter orders stating a grantee holds superior title to a property.

Recession resistant asset class (people downsize, move in together, move back home, etc. during recessions)Cash flowing asset (not dependent on market appreciation)People buy a lot of crap and toys during good economic times (and need a place to put it)75% of the facilities in the country are owned by non-institutional owners (opportunity for adding value)Small ($10-30) rental increases create large increases in NOI and property valuationSticky tenant baseUnits are easy to maintain (brick and metal, no amenities, little landscaping)Location, population growth, and barriers to entry matter. 

We dont have this in NYC (because its strictly illegal to do anything <30 days), but I have to create a new account for each property. 

I'm looking into creating a secular sober living home here in Austin and this looks like great info to have.

As long as it's utilized correctly, under leveraged, and viable from a financially defensive position, you can create tremendous growth - faster than you otherwise would have.