Most professionals will recommend a separate LLC for every $1 million in assets but I don't think that's necessary.

It's a perfect place to start your real estate investing journey. 

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

We started the journey last year Sept 2023.The deal closed mid November, after a 2 months journey to find the perfect property (price/Cash Flow/appreciate) and closed on it.Made her aware the holidays isn't the time for renters to move, however, once W2 taxes were issued in January 2024 she would get a tenant.She is officially a landlord!

The asset protection benefit is that I can utilize Special Allocation strategies whereby, I, as a natural personal individual, would own less than 10% of this new Partnership/LLC and my SMLLC would own the remainder 90% thus the majority tax responsibility would flow through to the SMLLC.Any thoughts from the professionals of BP is greatly appreciated!

It's advisable to work with professionals who have experience in navigating this process, such as historic preservation consultants and tax experts.Timing: The timing of when you claim the credits and how they impact your tax liability can vary.

Let me know if you have any questions and good luck on your investment journey! 

I have a guy on my team that is successfully renting by the room to young professionals, travel nurses, and college students, but that is downtown Indy. 

The reality is at the beginning of your journey you should be happy to get on base.

Hello Bigger PocketsI am just starting my investing journey, and will be buying my own properties soon.