There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

Trying to hypothesize a future HELOC or Refinance became too far fetched with guessing on property value, future APR, taxes, etc.

Should we avoid the hassles of trying to fix up the house and just sell as is, or fix it up and rent it out for generational income, or fix it up and sell?

The properties are either one street down from each other or are 2-4 buildings next door.Property #1 (Currently live in with my family and I)Purchase Date May 2021Mortgage Balance: $117,898Rate: 3.625%Mortgage payment including escrow: $870.51Purchase Price: $143,000Tax: $3,308Estimate to sell in today's market: $190,000- $210,000 based on current sales in the market this yearHOA: $110 monthly includes Water and building insurance and other maintenance for the propertyProperty #2:Purchase Date:: April 2022Mortgage Balance: $135,756Rate: 4.625%Mortgage payment including escrow: $1,375 (payment normally $1,059 but payment increased due to low balance on escrow because of tax increases)Purchase Price: $148,000Tax:  $4,578Estimate to sell in today's market: $190,000- $210,000 based on current sales in the market this yearHOA: $100 monthly includes Water and building insurance and other maintenance for the propertyRent: $1,400 a month only water is included in rentProperty #3:Purchase Date:: February 2023Mortgage Balance: $118,518Rate: 5.99%Mortgage payment including escrow: $1,315 (taxes have gone up for this property as well)Purchase Price: $132,000Tax: $4,522Estimate to sell in today's market: $190,000- $210,000 based on current sales in the market this yearHOA: $100 monthly includes Water and building insurance and other maintenance for the propertyRent: $1,400 a month only water is included in rentProperty #4: (We were thinking of selling this and take profits but not sure to be honest)Purchase Date:: February 2024Mortgage Balance: $139,408Rate: 6.75%Mortgage payment including escrow: $1,332Purchase Price: $147,000Tax: $4,130Estimate to sell in today's market: $190,000- $210,000 based on current sales in the market this yearHOA: $100 monthly includes Water and building insurance and other maintenance for the propertyRent: $1,350 a month only water is included in rent

However, I think, with REPS, we can deduct the expenses and depreciation against his W-2/K1 income which make the overall picture look appealing.

Are you interested in Short term rentals, multi family, fix and flips or do the numbers get you going like tax deeds, buying notes.I'm in Orlando and would be happy to have a call sometime and invite you to CFRI (Central Florida Realty Investors), the local chapter of the national REIA.

If the properties are split into more than one LLC, then each LLC will need its own accounts.Checking: collect all income here, then use it to pay bills.

Can you earn more than the mortgage (net taxes on that money) ?

Banks/Lenders use a theory that if an investor encounters a loss be it in income, death, divorce, major sickness, or any other set back they are more likely to let their 2nd lien positions go in default before a 1st lien.Reason why I say this is although you have a great rate on the first mortgage you need to let it go and do a "Cash out refinance".

you can do anything, there is zero benefit in doing this. a LLC is a disregarded entity for tax purposes so essentially you are renting it to yourself so its a net zero.