If I do pay myself, then when I need the money again to pay for upgrades and I transfer money from my personal back to my business, does that pierce the corporate veil (I have an LLC set up)?

If you get further into your process and would like a free consultation, please schedule a time with me below and we can connect.https://bit.ly/Meet--DavidDSCR Highlights:• Interest-only available• Cash-out options• Can close as corporation or LLC• Unlimited number of financed properties• Only LTV, FICO, and DSCR required• Loan amounts between $100k - $3.5mm• LTVs up to 80%• FICO down to 640• 1-4 unit residential, 5-8 unit residential, 2-8 unit mixed use, condo and condotel

Super easy.Eastern CT Savings Bank, CTFairway Independent mortgage corporation- uses blockchain to close in as few as 5 days.

Establishing a corporate entity, such as an LLC or corporation, under which the property will be vested, is a common prerequisite.

Corporate travel, divorce, etc. are other potential tenants.If costs in your market allow, I would encourage a duplex purchase vs SF...potentially 2 income streams vs 1 would help offset the extra cost of a duplex.  

Without that you can be sued personally for any issue within it on your str.Its much harder for people to pierce the corporate vail and sue you personally if your property is owned and managed in a LLC .Financing is one of the only drawbacks as it is a commercial process and banks usually like to see 3 years of a decent tax return.We have 19 properties and all are in an LLC and in fact we only hold 2-4 properties in each LLC (all are owned by one parent company and done in one flow through parent company)to even further shield the liability that may/can occur on a property.There is no doubt you are exposed to higher risk on many fronts if an investment property is held personally.

Someone is always paying the tax man - it’s either individuals or corporations.

This means that you will probably need to pay registration and filing fees in at least 2 states if you don’t buy CA property as a CA resident.Any lawsuits should be limited to the assets of the LLC and not your personal assets (assuming you run the LLC appropriately and the corporate veil is not pierced, some debate as to SMLLC).

You can always convert it to an S corporation if the income / cost / benefits make sense to do so. 

I have a cash flowing MF portfolio (about 80 units) and I will be leaving my corporate job soon to 1) be a better Mom to my kids and 2) focus on growing my RE portfolio.