Hello, I’ve got a four unit with a garage and I am looking to rent out the garage separately and am expecting a lessor that does not live in the four unit to rent the garage. 1) is there a best practice about this scenario?

I have used a lot of the tools provided by other BP members, the BP formulas, and other things I found online.

I suck at numbers, so I made up some for a hypothetical subject-to deal to sharpen up. Can you experienced investors please critique my work? My hypothetical plan is to take over the loan> get a tenant in> cashf...

.- Logo designed and color palette chosen for consistency and professional look- Facebook and Instagram biz pages put in place- I am a graphics designer and created templates for coming soon, new listing, etc online ads using chosen color scheme- Website created (no IDX due to no money :-) )- Door knocking on 100 doors and left flyers I designed.

Also, I don't think I can depreciate anything since the house was practically "free".

You can also check to see if the county has online auctions where you can bid remotely.

(Yes, due on sale clause risk, but I've lived with that myself for years without any issues.)3) The equity from the property should be the contribution from the first couple and the second couple should contribute cash such that each party has equal contributions to the LLC.I would definitely have a real estate attorney help you with this as it is too complex for an on-line LLC creator.

I know it "could" be done, but I have my doubts about the practicality of it-has anyone done this recently?

I found them online and we’ve made arrangements with our title company to include them with our close.

I'm trying to find an online service to obtain my Texas state ID #, in order to open a bank account for my LLC, here in Texas.