The law is not as well established as with C or S Corps but, in many jurisdictions they are being given the same protections.

What are the tax benefits for me establishing the LLC for my rental property

The board (which I recently joined (treasurer) as a means to keep up to date on the situation of the building) had no established process for claims such as these and I am not the first person this has happened to.

Casimiro (2004) 121 Cal.App.4th Supp. 7 (late fee invalid because landlord failed to establish that damages for late payment of rent were extremely difficult to fix). "...

Buyers pay 3rd-party short sale negotiator fees all the time but that is for services rendered which is allowed by RESPA, but I can't see how a wholesaler could claim a service rendered.I guess I could establish a relationship so that if the non-licensed wholesaler buys a property and flips it, I would agree to list it at a very reduced commission in repayment for a prior lead.

What I have done to eliminate the guessing about values, I have established relationships with many local appraisers whom I can call and have them look it up and give be a quick ballpark value so I have something to go off.

it was an 5 yr ARM having said that my rental more than covered the mtg and taxes.that was a due diligence that I did before i purchased the unit.the LLC had to be establish with my husband as a grantor, bc i am a housewife, no income LOL. the LLC is taxed through our personal taxes.

. ;) I manage 50 units and have placed 'good' folks in similar situations and have paid the price...It is highly likely (I believe) that your intuition will turn out to be correct.Of course, it makes sense to weigh risk vs reward based on rent rates/candidate pool/current occupancy/etc...But, if I were a gambling man (I'm not), I'd lay cash that the new tenants are late by month 3 and unable to pay by month 6...

It is always a gamble with the courts.

If any person takes any adverse action with respect to any consumer that is basedin whole or in part on any information contained in a consumer report, the person shall (1) provide oral, written, or electronic notice of the adverse action to the consumer;(2) provide to the consumer written or electronic disclosure(A) of a numerical credit score as defined in section 609(f)(2)(A) used by such person in taking any adverse action based in whole or in part on any information in a consumer report; and(B) of the information set forth in sub-paragraphs (B) through (E) of section 609(f)(1);(3) provide to the consumer orally, in writing, or electronically (A) the name, address, and telephone number of the consumer reporting agency (including a toll-free telephone number established by the agency if the agency compiles and maintains files on consumers on a nationwide basis) that furnished the report to the person; and(B) a statement that the consumer reporting agency did not make the decision to take the adverse action and is unable to provide the consumer the specific reasons why the adverse action was taken