Quick question and help needed from the tax pros/gurus in the audience. Thank you in advance. I have two long term rentals. I am not set up as an LLC. In 2023 I paid one contractor slightly more than $600 for HVAC w...

if there are any lates / collections  - pay them or try to get them removed ...if you have rev  credit cards - keep the balances under 30% or the limits  etc .... 2) try to get a HELOC    3)   consider trying to  buy a  multifamily  property you can live in part of and   rent the other  units  and  either sell the  condo or  rent it   4)  if you deceide to move forward with trying to buy - get formally pre  approved as your first step- good luck

Give a formal warning in writing5.

A formal education can make you competitive and teach you practical things you've already shown an interest in such as finance and business.  

I guess with a bunch of loans not paying and then all of a sudden they have to retain legal the deals go from profit to loss pretty quickly one borrower i know personally we into them for millions and the borrower sued them (BS suit by the way) and then they had to file judicial on all his 30 or so loans.. then He went BK and they had to pay to wrangle through that.. plus this borrower filed material man liens behind their loans so they could not even do workouts and they had to pay to litigate all that.. so you can see I bet the defaults and subsiquent legal fee's and then super bloated overhead did them in.

After the 10 days of nonpayment, I would contact a lawyer for a formal eviction process.

So long as it is set up properly and truly treated as a separate legal entity (separate bank accounts, proper capitalization, corporate formalities, etc.) 

Investors should not be drafting notes and security instruments or installment contracts unless they have had formal legal training, finance and compliance training.

We don't have a formal "free pass" system yet- though we're trying to create one.  

As long as I clear my minimum threshold, I am happy, but I am sure there is certainly a better, more precise, and formal way of making the determination.