I would prefer to manage everything through the LLC's account for bookkeeping and tax purposes.Proposed Solution:Open a new joint personal account specifically for making mortgage payments.Transfer the monthly mortgage payment amount from the LLC's business checking account to the joint personal account.Document these transfers as "Owner's Draw" or "Owner's Distribution" in our accounting records.Use the joint personal account to make the mortgage payments.Questions:For the CPAs and accountants out there:What are the tax implications of this approach?

I'm at 13 rental units and it generally covers my recurring monthly costs (around 3500-4000 a month).

Thank you everyone for this helpful information, has anyone pulled off a successful BRRRR, in the past six months, or have you assisted someone with a BRRRR, in the Central Florida area?

Now my prop manager is saying he can only pay me monthly and not give me the full years rent as it is not legal.

I don't feel as if $500 a month in interest is worth my time on one of these notes.

Recent winter months was the first time we have experienced typical seasonal slowdown since Covid. 

I've been renting out my 3/3 end unit townhouse for the past three months through Furnished Finder, to a great tenant on a four month lease.

Purchase price: $690,000 Cash invested: $35,000 Contributors: Daniel McDonald After years of research and a few months of searching, I finally house hacked a two-family in Peabody!

Hi guys, my name is herby and I just closed on my first deal for house hacking on a 4plex. 1 of the tenants is out of contract and is on a month to month and that’s the unit I plan to move into.

I am moving back to Kihei in a few months and looking for groups / networking. :)