They will be prorated on the HUD, but you may have to make a payment in between, depending on how the county bills them.

If this LLC was formed after January 1, 2021, it needs to be registered with FINCEN.Ongoing Compliance:Annual Reports: File annual reports with both Nevada and Michigan to keep your LLC in good standing.State Taxes: Check if you need to file state taxes or pay fees in both Nevada and Michigan.General Compliance Tips:Local Business Licenses: Depending on the city or county, you may need a local business license for operating your LLC.Registered Agent: Ensure you have a registered agent in each state where your LLC operates.

Cash and credit are key when it comes to fix and flip loans.It really just depends on how much I can pull together, I'm really trying to find a nice small house, but at the same time isn't like basically at the state of being condemned.

The metal also might bring higher value depending on the comps in the area?

The portion of your homeowner's insurance attributable to the rental unit can be deducted.Building a basement apartment can provide valuable tax deductions if you rent it out.

@Alan Wolkov I'm not familiar with the Land Academy (yet) but do know that @Seth Williams and @Mark Podolsky provide great content.

Cash-Out Refinance: If you refinance the property, you can pull out cash based on the equity, which can be used for down payments on BRRRR properties.Collateral for Loans: The farm can be used as collateral for obtaining loans for other investment properties.BRRRR Investments:Immediate Cash Flow: BRRRR properties will likely generate some positive cash flow right away.Faster Turnover: BRRRR allows you to recycle your capital more quickly, aiding rapid portfolio growth.Initial Investment: $60,000 can potentially fund multiple BRRRR properties, providing diversity and multiple income streams.Farm Investment:Emotional Value: Maintaining the farm within the family has intrinsic value that cannot be quantified.Long-Term Appreciation: The farm's value may appreciate significantly over time, providing a substantial future asset.Monthly Cost: The $400 monthly cost needs to be factored into your budget, as it’s a non-cash-flowing asset in the short term.Decision Points:Emotional vs.

Yes, its additional protection for short money ($500-1000/yr) depending on coverage-Will my father be able to transfer money into the LLC/Trust account without it being seen as a gift?

What is it that your wife thinks an agent does besides finding a property for someone and providing the contract which they don't make exceptions to?

Networking with local investors can provide practical advice and potential partnerships.Research and Planning: Start by researching the Asheville market thoroughly.