Unlike a standard lease where you vet one household, you’re screening multiple individuals who will be living together, often as strangers.

Additionally, there was no business license registered in the City of Atlanta.Suspicious Communication: The individual identified as Chris Anderson had a heavy foreign accent and provided convincing but dubious claims about the company's legitimacy.Questionable Financial Arrangements: Upon loan approval, the wiring instructions directed the loan fee to a Capital One checking account under the name of a supposed loan facilitator—a 85-year-old woman in Florida.

Hi @Emma Hustis, You are acting as a principal and assigning your entity's right to purchase to another entity or individual.

However, there's an obvious loophole to the claim because if you buy a house for 999K and then the value goes over 1 million then technically you're one of the 90% that just became a millionaire through real estate :) REIT investing is a much less active way of investing into the 11 major real estate sub-sectors, in the US we have 274 listed REITs on the major exchanges of NYSE and NASDAQ, and about 75-80 of them are not equity REITs but rather mortgage REITs, which I like to park cash in when 10yr yields are trending down to give me capital appreciation plus 14-15% dividend yields. check out alreits | Global REIT Researchto do more thorough individual research.

Originally posted by @Clint Harris:I agree John, but there are golf cart rentals in just about every Beach Community that is golf cart friendly, and typically those seem to be pretty high earning individuals.

The LLC will file a partnership tax return (Form 1065) and issue K-1s to each partner, with income split 50/50 and reported individually.

Can anyone verify this is OK or is it state by state-regulated based on their individual jurisdiction?  

Im not expert but Ive took out a heloc and dragged on going on my advise and it suckedHi @Mario Morales, There are 2 things I would pay attention to in the scenario you describe. (1) Most cash out loans are limited to 75% -80% LTV meaning you wouldn't be able to get all of your cash back out. (2) The interest rates I see in the market are closer than what you've listed.

Is it beneficial to create individual LLCs for each rental property?

The income is also sheltered by depreciation - ie LP investments for tax purposes are basically treated the same as individual investments.