The strongest argument against forming an LLC would be the avoidance of the $800 CA annual LLC tax along with the CA Form 568 filing obligation.Other than that there will be no tax difference holding the property directly vs holding in a disregarded SMLLC.As always, consult an attorney and carry appropriate insurance.

As far as the rent goes (and I need to talk to an attorney, if you know a good one let me know) but I want to offer a settlement for the tenant.

Hi @Asher Carr, usually in NJ, the buyer pays for their own closing costs, which includes title insurance, attorney fees, and lender fees if applicable.

don't know about that state but I know CA OR and WA have very strict laws on what you can and cannot do with someone in distress IE in foreclosure.. check with the state or a good real estate attorney taking advice from the internet is not wise with something like this I think .. unless an attorney familiar will pop on and give an opinion..

@Jason Johnson send a letter to every single contact to that property attorney siblings blood brothers alike.

@Quynh Lan Nguyen - Yes or you will have to foreign register your LLC from one state into the oter state.E.g if you have an LLC in MO you want to hold a rental in TX you will have to foreign register your MO LLC in TXDepending on the size of your portfoilo and equity in your rentals your attorney should be able to suggest the best entity structure for youHope that helps

That diagram made me realize I need to sit down with a real estate attorney...

I do not know if I should pay for a appraisal (that is a lot of money considering how many properties there are) and if I should get a CPA and attorney.

In NJ your attorney can take care of everything

@Evan Blade you can pull one off the net or BP file place BUT you should take it to a local real estate attorney.