This is one of the main reasons that I personally will not own any properties out right in the near future. 

I realize there might be an easier way to have done this in the future, but those are the current logistics given our first time using private money.I'm looking for a document that might cover those details.Thanks!

http://wfpl.org/the-future-of-floyds-fork-louisvil...I frequently kayak and kayak fish at Floyd's Fork.

@Alfredo DavidWelcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.

Thanks for the tips Jordan, I will definitely contact you in the future to discuss potential investments! 

I wish you the best in your future endeavors and hope you find the rental you are looking for .

I am a newbie as well, just read Flip Your Future by Ryan Pineda (was recently on the BP Podcast) and thought it provided a lot of good tips while being an easy and fun read.

@Austin Hendrickson ...yea  If you read (c) For the special rules as of right now (keeping in mind that it may change in the future...)but it specifically states "any investment" held by the taxpayer. 

I hope to have something more interesting to talk about in the near future as I get my wholesaling business off the ground in San Diego. 

We may look for another investment property in the future, but not right now.So my question is, should we form an LLC?