I need to finally pull the trigger on this.My pertinent info:-I own 3 rental SFR properties, all free and clear :D worth approximately $450k-I live in a 4th property which is mortgaged-I live in California :/-I also have a regular jobPrimary goal: asset protectionSecondary goal: increase tax advantages above and beyond my current sole proprietor statusAs a side note, I would also like to hear your thoughts on LLC'ing in wyoming/nevada/wherever else you can think of and how that model would or would not work in California as a foreign corp seeing as how "strict", for the lack of a better word, it is here in California.My entity/entities of choice would protect me from inside liability as well as outside liability.

When I couldn't find any good discussions on here about it, I figured it wasn't very promising.Albert, could you keep us posted on how those work out, and maybe follow up with some details, rates, costs, etc.

I think the wisdom and practicality at biggerpockets will help me define the best way to go forward- not to mention the questions and details that come up when executing the plan.

McKellar Newsom If the person is Canadian here are some banks:Harris bank (bank of montreal) will deal with loans 50% of purchase price but they will want to have a relationship with the buyer firstRBC Centura (RBC canada) not as picky to having a pre-existing relationship with clients and will do up to 70% of loan to valueWashington Federal- minimum investment $50,000 to $700,000 up to %65 of Loan to ValueTD Canada trust-not sure the details but I know some investors have used them.

It was paid into "your account" with the PM company.This is how it SHOULD be reported; however, not all small PM companies realize this and will not provide you with a detailed statement.

If it helps to know the details, they are as follows ... property is a luxury Hawaiian estate.

Here are another few pieces of advice that can help - especially if you have a full time job:* Cell - Buy a pre-paid cell phone and record all the details regarding the property (how much, how big, verification needed, security, etc.) on the VM.

It's a speciality trade and is not very interchangeable with drywall repair tradesmen.Best of luck and be sure to post any details and quotes you receive on this post.

Hello Jon, The detailed answer is quite appreciated, I realize it must have taken some time to answer in such manner, so thank you :) Some follow up questions:1.

A good lender/broker should be able to talk about these concepts in detail.