If so they could each take the first $250k of capital gains tax free.

This means that to benefit from the separation between my personal assets and the company’s assets, I need to establish the LLC in New York State.However, I’ve found that the start-up costs and procedures for opening an LLC in New York State are significantly higher and more complex compared to other states (such as the requirement to advertise in several newspapers for an extended period).

Feel free to DM me and see how I can help you get started there!

For Example, maybe you can add a line to your lease agreement that says, tenant will take care of the lawn upkeep and if it is damaged, they will re sod it at their cost, you could add quarterly inspections 

Give criminals crossing the border free everything. 

>Seems to me that at scale, a portfolio like Luka's would indeed build wealth over timeIt is cash flow negative in a market that has an appreciation rate (2.17%) for this century below the inflation rate.https://www.neighborhoodscout.com/oh/cleveland/real-estatehere are some thoughts about your plan: - why perform a value add in a market where the value add does not add much value especially if the property will be acquired at no cost?  

I hope Colorado realizes how  much this is going to cost them in tax sale revenue.

Low cost investment that fast forward 3-5 years it will be worth much more allowing you to pull out equity/cash to buy more.I see investors buying $350K homes only cash flowing $400 a month, so Yes 100% good deal.

It will likely add value less than 50% of its cost.  

Feel free to reach out if you want to chat sometime