Hi guys, sorry if I am posting in a wrong forum (There used to be local forums, somehow I cant find those anymore)...Does anybody know, if I wanted to transfer a house into an LLC in Indiana, is there a transfer tax?

Plus you won't need to provide tax returns or paystubs, lenders will look at the return on investment of the property itself.

Insurance and Taxes - This will go along with budget and timeline but is important to note that you're going to pay this for the time you hold. 

I grew up in CA and decided to move and invest in Reno, NV because of it's proximity to CA and Lake Tahoe, job growth/population growth market dynamics, taxes do not reassess on the sale, no state income tax, much more landlord friendly, etc. 

What if one of you loses their job and can't pay their part of mortgage, taxes & insurance?

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

If you're thinking about out of state investing Reno, NV area is a great market and close to CA and all the tax benefits, landlord friendly, and low property taxes.

I've found luck using actual tax returns as my income instead of talking about rents or how I rent it out.

He probably would have gone for it because he says he paid almost 6 figures in taxes on it. 

Keep in mind, the transactional costs of selling a property in Philadelphia with the high transfer taxes and brokerage fees (althoug these are expected to be reduced in light of the landmark NAR settlement that occurred yesterday), adds additional transactional costs, especially in instances where the home was purchased as recently as last year as is the case with your home.