@George Blower running an LLC is really not that complicated, nor expensive.

The only hiccup out of 5-6 houses was one appraisal issue that we had to meet in the middle (closer to my number than the appraisers).My opinion is that realtors are worth it (I use one now, but am getting my license as well) however I found listing and selling my own deals was not complicated.

Is it complicated to use the  background screening or is everything pretty simple ? 

Also that structure sounds highly complicated.

Fortunately, the property is in North Carolina and not here in California where things are exponentially more expensive and complicated.

This is complicated by the fact most will want to know your cost basis in the property and won't want to cash you out completely, again because they view it as riskier. 

This setup is going to get complicated pretty quickly.

As in - if you want to take an aggressive position and are not afraid to defend it in case you're audited, then...Here is one possible answer, out of many that could come out of a thorough analysis.the apartments can be considered in service since Oct 2018, so you can probably deduct your entire mortgage interest and your entire holding costs such as taxes and insurancerehab costs should be allocated to the different parts of the property as much as possibleonce each respective part of the property is ready to be placed in service, its portion of the rehab kicks insome pieces of that partial rehab, like appliances and carpets, could be immediately deductedother parts (which is possibly most of the rehab) will have to be slowly depreciated over 27.5 years for the residential units and 39 yours for the shopsonly some work specific to the apartments might qualify as repairs, and it has be evaluated by a tax proYes, it's complicated.

This gets pretty complicated as we were blanketing properties under a portfolio loan and using LOC for renovations...and re-financed this one after we pulled $30k from a HELOC then moved and rented it at $1,200.

This gets pretty complicated as we were blanketing properties under a portfolio loan and using LOC for renovations...and re-financed this one after we pulled $30k from a HELOC then moved and rented it at $1,200/mo.