This would be very much like a borrower having the property rented at break even.So in short, a LO simply saying "he wouldn't finance" without running full credit and verifying income would be short sighted, in my opinion.July 3, 2022To Whom It May Concern,On November 14th, 2018 one of our holding LLCs, [LLC Name Redacted], entered into an agreement for sale on the property at [Address Redacted].

Also look at their property tax rates and how much they go up each year. 

Most buyers and investors say 'ASAP' so we then ask a follow-up, 'if we agree on terms today, is there anything that would prevent you from signing the contract today'.

Let's break down the pros and cons of each approach:Forming an LLC in the State Where the Property is Located:Pros:Compliance with Local Laws: Establishing an LLC in the state where the property is situated ensures compliance with local regulations and laws specific to that jurisdiction.Legal Clarity: It provides clear legal jurisdiction and may simplify any legal proceedings related to the property in that state.Perception: Operating with a local LLC may give tenants and local authorities confidence in your commitment to the community.Cons:Additional Costs: Setting up and maintaining an LLC in another state means incurring additional registration fees, taxes, and possibly hiring local legal counsel.Administrative Burden: Managing multiple LLCs across different states adds complexity to your administrative workload, including extra paperwork and compliance requirements.Tax Implications: You may face tax obligations in both the state where the property is located and your home state, potentially leading to double taxation or complexities in tax filings.Managing Through Home State LLC:Pros:Simplified Management: Handling all properties under a single LLC streamlines administrative tasks, reducing paperwork and simplifying tax filings.Cost Savings: Avoiding the need to establish multiple LLCs in different states saves on registration fees, legal expenses, and ongoing maintenance costs.Consistency: Uniformity in management practices and legal structures may contribute to efficiency and ease of operation across your real estate portfolio.Cons:Legal Exposure: Operating out-of-state properties under a home state LLC may expose your personal assets to the laws and liabilities of the other state, potentially diminishing the liability protection the LLC offers.Compliance Challenges: You'll need to ensure your home state LLC meets the legal requirements for conducting business in other states, which could involve additional filings and fees.Perception and Credibility: Some tenants or local stakeholders may prefer dealing with a landlord who has a local presence, which could impact your reputation or relationships in the community.Ultimately, the decision depends on your specific circumstances, risk tolerance, and long-term goals.

But i had a title claim in Balt city and they first denied it I went up the food chain still no love.. ( keep in mind I am closing over 15 mil a year in Oregon through them) I had to get my attorney to write a few letters then they caved but it still cost me some attorney fee..  

PM isn't a great place to simply save money- it's a 24/7 job and there's huge liability if you don't know what you are doing.

Had ups and downs along the way as I'm sure many people have. 

Warn them upfront you won't put up with it and the monitor. 

Okay Peoria people, I live in Nashville now but I grew up in Peoria for 18 years.

So most do not worry about capex, so they will either patch it up to keep going or go into debt?