This separation helps in maintaining clear financial records and simplifies tax reporting and financial management.Setting up an escrow account specifically for rental income within your LLC can offer several benefits:Financial Clarity: It separates rent payments from other operational expenses, making it easier to track income and expenses related to the rental property.Legal and Compliance: Helps in demonstrating that rental income is kept distinct from personal or other business funds, which can be important for legal and tax compliance purposes.Tenant Transparency: It provides transparency to tenants and other stakeholders regarding where rental payments are deposited and how they are managed.While it may not be a legal requirement in all cases, maintaining an escrow account specifically for rental income is a prudent practice that many experienced investors and landlords follow.

I like this idea because it rewards the tenant by allowing flexibility with their rent payments and rewards me with a bit of extra cashflow. 

Are you saying if the army doesn’t allow me to buy a house?

Hey Bigger Pockets Family, I recently moved to Denver, CO from Tacoma, WA where my business partner and I used to fix & flip properties.

Yes, this lender might see all kinds of deals PROJECTED on paper, but what about business returns showing the actual results?

There maybe instances where you might do this for a short term, say allowing the buyer to file the next tax return to qualify.

This is ingrained in us because the NAR Code of Ethics prohibits us from soliciting business from another realtor's clients, but there's also a certain protocol and level of professional courtesy involved, and listing agents expect to hear from the buyer's agent if the buyer is represented.I've also had instances where a seller inadvertently sent documents directly to the other agent before I reviewed them, and it ended up costing them time and money.

I ended up having to use a combination of CALVET and VA loan because my second home was more that the limit allowed by VA.

For example, I have a client who lives in Franklin, TN and purchased a second home downtown Nashville, TN with the intention of using it when conducting business downtown, entertaining clients, etc...  

Hi Summer,I have been here in Florida for over 35 years and there is currently No County that allows for an FHA purchase of a 4 unit for $1.9M.