As well, I've seen termites travel several stories (disregarding all the wood in-between) simply to make it to the roof where the conditions were like a steak from Ruth Chris.

Umbrella LLCABC LLC DEF LLC GHI LLC KLM LLCIf they are holding rental properties the are all disregarded and flow through to your Form 1040 Schedule E.

I am relatively new here so if that is inappropriate please disregard.

Since that LLC is a disregarded entity for tax purposes, I use Sched E on my personal return to account for the OH rentals. 

@Bill G. you first post was so helpful it made me completely ignore your second post and take any "advice" you have and completely disregard it, while basically telling me i am ignorant idiot without any direction in what way i should go to accomplish this opportunity you have managed to not only waste my time but paint yourself as a buffoon.

Normally, we'd assume that inflation can be disregarded because all prices will increase at the same rate.

Disregarding the fact that writing this information down is an excellent business practice, and just good common sense, are there any legal advantages to having things like this written down?

Disregard everything that has been said in this thread so far.

You can search for "calculate cash flow" or "50% rule" here on biggerpockets.You have left out quite a few expenses and disregarded repairs completely.

** just saw link above, please disregard**