The legal theory is that the corporation/LLC is a different legal entity than the person who owns it, and thus representing that entity in court is the practice of law.

Legal and Professional (CPA)d.

It is not so much the tax benefit but the legal protection that makes it worthwhile.

As far as limiting the numbers of rentals, the mortgage companies have a guideline as to the numbers of rentals permitted beyond which they will not give loans, or better loans, to new buyers.

Now one of the investors I know in Atlanta says that his attorney requires that he have the funds to close on a double closing just in case it falls through, but he didn't mention that it was a legal requirement.Now if the buyer doesn't end up closing I could see where there could be some legal ramifications if you don't have the money, but I have doubts that there is legislation against it.

I made a template with; address, legal description, date of acquisition and capital cost.

the bottom line is this -make offers that will increase your likelihood of making money on the deal. 70% below market + repair costs is just a guideline.asking price 100kAFTER REPAIR VALUE - 130k130k - 30%= 91k91k - 15,000 in repairs/holding/other costs = 76k offer price.that's a general guideline.

Here is my challenge what it will be the best way to me to have a legal protection and hide my name.

following certain guidelines for whatever type loan provides the lender with multiple options.

i am looking to set up an LLC owned by my Roth IRA. i would like to find someone who can give me a legal opinion on having debt within the LLC, without having to pay taxes on profit, and compensation within the LLC.thanksjim