Purchased for kids future/college fund (maybe relevant maybe not) Mortgage rate is 4.4% currently paying $1149 a month (including taxes/Insurance)Currently rents for $1550 (room for upping rent to $1600+)In the 2 years Ive had it, Ive added a roof(insurance claim),new windows, new bathroom, plumbing.

Even the house is fully paid off, the 1% property tax + 1% maintenance offsets 2% annual gain.

Let's say your taxes are 2k per year and insurance is 1k per year. 

. • Property Tax @ $2,950/year. • No HOA. • 12 month lease in place as of 10/1 @ $1,395/Month.Thank You!

Instead, I have tons of extracted wealth that is tax deferred ((owed when I sell). 

Some are even tax free. 

Sounds like they are in a pretty good situation unless taxes and insurance costs are going to eat heavily into cash flow or the properties all need cap x improvements and they would rather sell than fix them up.I would have buyers for these if that is what they are looking for.

There’s still 80-plus golf courses, I pay $2600 in property taxes on a 4br house with a pool, most people are kind and generous, weather is wonderful (but still lows in the 30’s in February!)

But the taxes due would have been zero.)

However the property is still under my name, Do I have to report taxes for the SM LLC (which has its own EIN) that technically has no income?