Also I find that posting on Craigslist is not effective just because your post will get bombarded and sunken to unreachable bottom within hours with those corporation automated posts.

We have our new corporation.

And piercing the LLC (corporate) veil is not all that difficult as many LLC don't have separate bank accounts, minutes, resolutions and often co-mingle funds.

I decided to join BP because of the awesome Bigger Pockets podcast that I encountered a few weeks ago on my iPhone and can't seem to get enough of.A bit about myself: I am a former Corporate Financial Analyst jumping head-first into the Real Estate world for the opportunity and challenge that it brings.

If it is passive, I would not be worried about a salary.If you already have a corporation and use that to make your investment it would be taxed as interest.Facts and circumstances of each case.

You'll also sometimes see "corporate owned" which means the same thing.

You can use the actual percentage of expenses(based business/ total miles) or the standard mileage rate.If you have a corporation that owns the vehicle it is to charge you (via w-2) for the fair market value of your personal use of the vehicle.IRS Pub 17 page 185 US Tax Court Pages 15 & 16IRS Publication 15 Fringe BenefitsAdvertising display on car.

If you do not follow a fairly strict separation of company from personal the courts can pierce the corporate veil, or disregard the company and make you personally liable.

I work in corporate America and make decent money but I would like to purchase an investment property with the help of outside financing.Would it be beneficial to create a business entity to protect myself or should I wait until I have a few investment properties first and just practice creative financing in the meantime.

Also if you are sued, you will be subject to IL law.Do either of you have existing corporations?