If you don’t have a plan for both, ownership can quickly turn into a headache.Also, don’t forget about resale value—equipment like this holds its value quite well.

And some are reasonable at both of these things, but can't handle owner-occupied units, or multiple ownership structures, or lack the flexibility to track a real-estate related side hustle.

But whatever you do, don’t transfer ownership to you and/or your sister before his death.

Account Closed Is there another ownership option besides LLC and personal?

She's (80% ownership) asking for $250K (note she hasn't disclosed the actual loan payoff and amount borrowed against the equity).

Transferring your Ohio rental property into an LLC after closing could trigger a due-on-sale clause with your lender, as moving the property from personal ownership to an LLC is often seen as a change of ownership.

If you do the math it makes much more sense than paying dorm fees And your kid gets a good education on property ownership and management in the process. 

Beneficial Ownership Information Registry Now Accepting ReportsJanuary 1, 2024Existing Companies Have One Year to File; New Companies Must File Within 90 Days of Creation or RegistrationWASHINGTON – Today, the U.S.

At least not on the ownership (title).

Nobody worries about the $65k I just paid in legal fees to finally get ownership of 2 properties that the borrower hasn’t made a payment on in almost 3 years!