Hello BP community,I have opened a Delaware LLC early this year where I plan on registering 3-5 rental properties I plan on acquiring in the next 5 years.

l. e. n. d. e. r.

@Jay Hinrichs so similar to why a lot of corps are based in DE, favorable laws. 

Originally posted by @James De Leon:Hi @Mattias Srolis,You don't need very much money to start in real estate. 

Joie de vivre!

We are going to have to create an de minimis HOA when we go to sell the project but in the mean time since it is owned by myself the town is not requiring us to create a legal structure yet.

Most of our properties are in Cecil County, but some of the investors who attend are also in Newark/Wilmington Delaware area.

Typically our lending partners programs are as follows:Rates: 10% to 14% (Most Deals are 12%)Terms: 1 Day - 24 Months (Most Deals are 6 months)Fees: 2-5 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 (For loans less than $200,000 we charge $2,500 minimum)Max Loan: 70% of After Repair Value(ARV) 100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 10 business days)We have private lending partners throughout the entire United States that cover the following states: AL, AZ, AR, CA, CO, CT, DE, FL, GA, HI, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, OH, OK, OR, PA, RI, TN, TX, UT, VT, VA, WA, WV, WI, WY.

I have rentals in Delaware County.

In general, the cost would either be considered a repair or an improvement(capitalized).You may be eligible to potentially use the de minimis safe harbor election to write off items in relation to the $12,000 spent if you have a itemized list.