Or pay a professional to advise what is best for your situation.A sole member LLC does not exist for tax purposes.

The bank often doesn't know much history, so seller disclosures can be limited or non-existent.

Hello there Glen-Welcome to the club and I hope you find out everything you need to know from all of our existing forums.

You need to know the local laws as many times these properties are regulated almost as hotels and the contracts are completely different.

Single member LLCs are considered to be disregarded entities for income tax purposes and as such are treated as if you acquired the property as an individual for income tax purposes, but they exist for legal protection.

Heather, around here people do "duplex splits" where an existing duplex is legally split up and sold separately.

Some of the restrictions as tied to what existing financing is in place.John Corey

I am in Canada, so I would have to look up securities regulations here.

The problem isn't that they don't exist, it's that you don't know how to find and attract them.

Except that I couldn't do that on the existing lot, which would have meant buying an adjoining lot (that made it "iffy") except by taking that small lot it would have greatly decreased the value of the lots adjoining it.