Are you sure you are not just doing replacement therapy and you really should be buying a property? 

Hello @Michael Dallas,To verify the seller’s information, ensure you request these essential documents:Rent Roll (to confirm rental income and occupancy)Lease Agreements (to review tenant terms)Financial Statements (past 1-2 years, including income and expenses)Property Tax StatementsUtility Bills (if applicable)Maintenance Records and recent CAPEX reportsInsurance Policy DetailsInspection Reports (any recent or previous reports)These will help you confirm the property’s income, expenses, and condition.

Total property value is 5 mill.Loan term is ending May 2026.

Being more handy around a property to do some of the minor repairs yourself3.

But I draw the line when there is risk of damage to the property, annoyance to the neighbors, health concerns, pests, etc.

Since this is our first property, is it advisable to use a single LLC for both personal asset protection and holding the property, or are there reasons to consider a more complex structure?"

@Jordyn GeggIf you mean like property manage then you would need to get licensed and insured for each property since this new LLC does not own themI would not take on the Burden or expense of setting up another LLC for something like this since it doesn’t gain you anythibg

Selling is expensive!

This was an off-market property.

So there really are no pros, in my opinion, to putting your property you're house hacking in an LLC.