Using an llc eliminates your ability to get up to 10 conventional 30 year loans.

With them just charging half of 1 months rent, it's a good trade off for me.However, I will say that the place is not seeming to have success in renting.

We begun our search for multifamily and even got preapproved for a conventional mortgage loan in the 500s with 20% down, but as we continue to evaluate many of these properties and their cash flow, it seems like a high cost of entry, ownership with a low return/cash flow.

Maybe charge for storage.

I usually buy properties that are distressed to the point that they will not qualify for conventional mortgages.

Putting into LLC makes for a commercial refinance, not conventional.

We currently own and manage 3 other rentals but out debt to income is high so conventional/bank loans are not currently an option for us.

I have not made the jump (yet) but here is my current thinking:I see my W2 job as a means to conventional loans.

If he charges 500-600 for a partnership return and an individual return - you are getting one hell of a deal if hes doing everything correctly.If the LLC is a disregarded entity - i think the price is fair.

A PM company may charge you 10% a month on this property, as an example.