I don't mind paying taxes when I'm pulling down a profit of a few hundred grand or more.But good suggestion on doing cost segregation on the cabins.

@Robin CastilloLLCs are useful for legal protection, but they require separate tax filing, typically cost several hundred dollars to create, and most non-commercial lenders will not lend to LLCs.Commercial lenders will lend to LLCs, but their interest rates are significantly higher and they require collateral that regular lenders don't.I would not create a LLC specifically due to the issues in getting a traditional mortgage it will likely cause.One potential route though, is to get a traditional mortgage in your name and then assume the loan after a 6mo "seasoning" period with your LLC.

I used to fund a group in Detroit in the early 2000s that did hundreds of these just like this.. their average lease options tenant made it 18 months..

It contains hundreds of files such as ebooks, checklists and spreadsheets for real estate investors: https://www.biggerpockets.com/filesGood luck.

I have done it hundreds.

It contains hundreds of files such as ebooks, checklists and spreadsheets for real estate investors: https://www.biggerpockets.com/filesGood luck.

These should add up much higher then your few hundred a month loss right now.

It contains hundreds of files such as ebooks, checklists and spreadsheets for real estate investors: https://www.biggerpockets.com/filesGood luck.

@Randall Alan Obviously you can get close to the same return at the bank right now with a CD but you’re not getting an asset that’s being paid for by your tenants that will be worth several hundred thousand dollars one day, you’re getting no tax benefits, and your money is being eaten away by inflation.

There are blogs, books, hundreds of pockets here on bigger pockets that can help.