Again though, as a CPA I let the attorneys work with clients and determine what is best as the DIY options might leave you with a void that renders the LLC (or any entity for that matter) set up ineffective and useless.

In that way, they appreciate everything being turnkey, with no need to buy linens, kitchen ware, and furniture nor set up utilities.

Initial set up was pretty easy.

There is more time invested but totally worth it for the increased cash flow Hi Tiffany,How long have you had the homes set up for Padsplit?

You are the member of the LLC not an s corp or a c corp which owns the LLC - which is more traditional in syndications and other setups

For some background....I'm currently working with my CPA to setup my STR that I manage myself (I have a cleaner and landscaper aside from me).

I will have to get Quickbooks setup.

But if I’m going to be set up better in the long run if I enlist help, I want to do that.

I would imagine that once you set up a payment plan with them, they will turn on the water for the plumbers to do what they need to do.Not sure on the regulations on this but Id also see taking the tenant to court for the balance due on the water bill.Best of luck!

Just got my first investment property under contract and it's time to get myself set up to manage the rental business well!