You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a tax strategist willing to work with you throughout the year, not just when preparing your tax return.

Tax basis wise this will be a ***** to manage.

@Brian Willie this setup is very common to avoid having each Property LLC to have its own bank accounts.Only the Management LLC will need Operating and Security Deposit accounts.They all need to be single-member LLCs with the same owner, or else it gets very complicated.Find a good tax attorney to help set this up.

Feel free to message me anytime with scenarios.

New Jersey’s taxes cut into the former. 

Feel free to reach out anytime & Welcome!

Using the BRRRR method and 1031 tax deferment strategies are a great way to build your portfolio. 

I got one done at 65% LTV cashout and it was on a free and clear owned asset worth 900k that had 12 month trailing history on STR sites for 500k in rent, yes 40k+ per month. 

Heck probably because he could easily pay off his $700,000 personal income tax delinquency in California in which he is listed on CA's government website as tax deliquent and it was just updated 6/6/24.They want to charge me with extortion for telling them to make the situation right, to not rent that house out to anyone else before making repairs, and to give me a portion of my money back for the rented house or I wasn't going to let up on reviews.

Let’s definitely make the time to do so Feel free to send me a PM!