Hello everyone,I’m in the process of replacing the backyard fence at one of my properties in Memphis, TN, and I’m considering upgrading from the current dog ear style to a more modern horizontal cedar wood fence.

My thought is that we open a new LLC to run all property management activities (for existing rental property and cottage) along with new bank account, etc. for all activities. 

It's been a few weeks since I reached out but I am moving into the remodeling phase on my property.  

@Anne Nguyen how is the property being used TODAY?

so that would mean that there probably needs to be a home of some kind on the property.  

Which means who is responsible for the property, who gets the financial benefits and who makes the decisions.

----------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

We financed the down payment, so with my buyer's agent commission I got back from the seller at closing, not only did we bring $0 to closing, but actually made $5k when we bought the property!

I knew that investing in property was a path to building wealth, but I didn’t fully understand how to leverage it for retirement.

Sounds like property manager, so you would need to research market salary for PMs in your area.