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

I would like to quit claim deed this property into a recently formed LLC for liability protection.

One poster just claimed 5 million in net worth generating only 20k net income into retirement.

Hi,I’m considering a partnership with my next rental purchase, and this would be my first partnership.Do you form an entity for the property such as an LLC taxed as a partnership before acquiring the property?

It will, depending on the financing, rents are strong in that area.Let's say you take a mortgage of 600k (75% of your ARV) Taxes - 5k Annually Insurance 2k Annually Rate - 7.5% 30 Year Fixed Your PITI payment would be $4,778.62If the lender is using a DSCR of 1.1 - you would need actual / market rent of $5,256.48 to qualify for a 75% LTV loan. 

Factor in ALL expenses like property taxes, insurance, repairs, maintenance, vacancy rates, and potential property management fees.2.

Be sure you understand the tax benefits and the errors that are often made that limit those tax benefits or come back to bite.

the claim that PM cannot share tenant's credit file / application is fundamentally incorrect because (caveat - not a lawyer so this is not a legal advice, was told this by a lawyer, but you still need to talk to your own lawyer)1. the business relationship is between the landlord and the tenant, not between the property manager and the tenant - property manager is given limited rights by the landlord, which include tenant screening on the landlord's behalf, collect rents, etc. and all such limited rights are fully revokable. 

You don't need to show income history or tax statements to qualify.

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).