Single-Family Home Concerns: Your worry about renting out a 5-bedroom home once your current tenants move out is valid.

Does an LLC from another state have to register as a foreign entity in NY to own and rent residences?

We are renting one of the units in a office building.

I know you are trying to "help" the homeowner by allowing him to rent the house back and share in the future profits, but this sounds like one of the exact situations those CA laws were developed for.

You forgot to put your location in your post or your profile.

Where in NJ are you located?

Most likely the state where the property is located is where lawsuits would be brought if they are something for personal injury like a trip and fall or something of that nature because the “cause of action” arose in that state.

Self bio: 19single single-family homes rented and self managed all local all BRRRR style, cashflow avg 320 per home.  55% dti.

We are open to it being rented out or bought for an assisted living space.

@Bob Mai wow, interesting how biased your post is.Their 4% is only if you PREPAY their fees for 12 months, otherwise 6% monthly.They have a minimum of $75/month, which means if your property rents for less than ($75/6%) $1250/month, you will pay more than 6%.They use Latchel for maintenance issues - Latchel is not cheap and there's a kickback in there somewhere.There's a list of extra fees for extra services and there's a lot they do not handle.You get what you pay for, so good luck.