I started an LLC for the Rental property about 6 months ago but technically have not done anything with it (filed taxes or started a business account with its EIN) because I feel like there is a smarter way to structure these different types of income after doing a little more research.

Although technically I’ve already sold a property (my home back in MA) I never thought about it as an investment, to me it was just selling a home.

@Chris Seveney is probably right technically, but I'm old school and like a separate account for each property/job etc...at least until you get past 5 or 10.

While every tenant passed the background and income verification, they all had issues at one time or another with late rent, sometimes for several months, the last of which I was in the process of evicting when I took advantage of a technical opportunity to get them out for good.   

This is a question you really need to ask your CPA and I would not take advice from someone on BP unless they were a CPA, but like attorneys, they are not your CPA so they would not be technically providing you with a recommendation or advice.

If the house had an outdoor spigot and that spigot leaked after the tenant occupied, and it was not leaking before occupancy- technically it is your problem to fix the leak, but not your responsibility for the water bill. 

If they are being added to LLC it’s not a loan but now they have a % of ownership in the LLC and will need to determine operating agreement their ownership and then you technically could still finance the property..

They technically can but will not because of dodd frank. 

So the trade-off is I would call this cold call for them and I would talk to them fill out the information get as much info as I can about the house for that lead and then have these questions checked off and answered to see if it's a good deal to pursue because I have time on my hands Yes I have a full-time job 10 hours a day but that is what I'm able to offer so if you are in the Twin Falls area or surrounding areas or Boise or technically anywhere I'd be willing to jump in and help with that portion of it if people need me to All that I ask is for a couple of things One to hone in on my deal analysis because honestly I'm kind of bad at that right now Also the rehab factor for estimating repair costs on properties and then one final thing is of course knowing the market value of a property and that's more of an MLS type of thing and I have a couple of people I can reach out to but I'm looking for those three things.

Technically it can be as low as $1 and as high as the two parties agree to.