When it comes rental property, it makes sense to create LLC under the state where the property is located.I am curious if it's the same with holding notes?

We do not have any motivation to stop paying our rent because it is all paid by our parents.

While Im currently in Amarillo, my parents live in San Antonio still.

My parent's make less then $35000 yr.

You've already bought it and withholding it gives the appearance that you're hiding something.Bryan's strategy of asking that they pay for it if they purchase the land is good.

At that time, my goal was to get my degree and a good paying job/career so I wouldn't struggle like my parents.

Real estate is one of the few things I am really passionate about, a result of helping my parents out with a rehab project 10 years ago and the subsequent management and expansion of their business.Now I am ready to try my hand at investing after agonising, decade-long wait, and my parents and I have had our offer accepted on a 5 unit property in need of renovating.

If you have cats put it up on something high and the parents will feed it until it can fly.stephen----------- Originally posted by @Kimberly T.: . . .

If you live with your parents, and they don't charge you rent, good.

We plan to do this in Asheville, NC as that is where my parents currently live.