Bryan -The property management company is correct in that you do NOT need to issue them a Form 1099 unless your rental activities are being treated as a trade or business.

The LLC should NOT carry on any business activity for exactly the reason that Steven stated.

Does Rangeley have any activity with foreign nationals (Canadians) buying property there?

I had been working with the seller on the price and was able to get $5000 of the asking price, had the house appraised, talked to the property manager on how to improve the property, talked to Lowe's about screen doors, and made numerous trips to the house.

Being a new investor I want to check my thought process with some that are active investors to see if I am in the same ballpark.

I know that source would not be as good as it once was either but I have a subdivision there where the activity does increase with things strengthening.

This place gets so much activity it is not surprising something blew.

If they are working the floor they are active agents and not snobs.

Hi Jesse,I am very new to the forum, but I am currently active in investing in SFRs in the greater Las Vegas area.

Just need some pointers so I handle this situation correctly

I got a call from a lady wanting to sell her house.
She thought it was free and clear except for delinquent taxs. $2000
She will sign the deed over to me f...