--Short answer: It really depends on which state the LLC is formed in.Long answer:Here's one way it could be done and afford you excellent protection, even as a single member.1.

@Jonathon Weasel headTough to answer - it depends on the interest rates on the loans - if the interest rate on the car is low then I would say no do not pay it off but if it’s higher than what you can get for an investment then yes pay it off

You are going to need to consult a tax professional on this.

There are fewer regulatory and tax implications compared to short-term rentals.Short-Term Rental: Can provide higher income but requires more active management, marketing, and maintenance.

For flip deals, there is a average of 80% ARV, but it will all depend on where you would like to be and buy.

AlabamaEffective Property Tax Rate (2019): 0.37%4Typical Home Value (2022): $189,9766Annual Taxes on Home Priced at State Typical Value: $702.9The current metro area population of Montgomery in 2023 is 374,000, a 1.91% increase from 2022.

In which states would I have to file tax returns? 

 Sorry to hear about your situation, depending on the lease if you have in there where they cover expenses caused by negligence. defiantly bill them. also curious, is the water heater tankless?

This is where you may specifically want a lawyer to take action for you depending on how difficult evictions are in your state. 

Also there’s the potential to refinance depending on interest rates.