Send me a text when you are coming to town….would be happy to have breakfast with you.Bill Powers, RTO Property LLC

What purpose does your LLC serve?

In the future, I will probably set up an LLC and use that to hold these, which would reduce the audit risk (even though it is the same business and form over substance) and then elect S corp taxation so not all of it will be passed through as social security/Medicare wages.

;)https://homes.yahoo.com/news/experts-rent-control-causes-more-problems-solves-181219436.htmlRising rents nationwide are causing rent control to gain traction — but not among economists, real estate analysts and other housing experts.A whopping 63 percent of experts surveyed for the Zillow Home Price Expectations Survey (ZHPE) said rent control ordinances are “government intrusions into the marketplace that, however well-intentioned, always create more problems than they solve.”It’s unusual for such a large group to agree on a single answer, according to Terry Loebs, founder of Pulsenomics LLC, which developed the Zillow-sponsored survey.

So far, so good.I then received a series of frantic emails from both tenants (they are a couple) claiming amongst other things that the painter had moved all of their bedroom furniture, leaving everything for them to put back, and that the painter had interfered with personal items.

Lets say i bought a condo under an LLC for short-term rental purposes. and on avg it was making 1k profit pre month after all the expenses (mortgage,taxes/insurance internet utilities). what % would i be looking to set aside for taxes? 

The mother died, both kids live out of state and hopefully we can get it for a great price.I ran the numbers, and looking into other possibilities of splitting the lot up to sell (one of few double lots in high value area) and all looks good based on mostly equity with some cash flow.What I am trying to figure out is how we can set up this partnership, we have talked about an LLC and we are pretty sure the bank will not loan to me in an LLC (they are double checking, small local bank).

Maybe its me or the way I'm phrasing what I need when talking to insurance agents but it seems astronomically difficult to find loss insurance for a vacant property in DC. What companies have you all used to get such ...

We want to start out flipping, then move on to buy and holds.We feel that forming an LLC is our first step, but after that is where we are wondering the next best option.

. :) You may also want to consult with a lawyer and see about moving the property into an LLC at the time of the refi.