The existing mobile home is currently being rented and generates income each month.

The individual loan officers working for the broker do not, and many of the loan officers have no clue about the real estate market.

Sometimes people are so excited they see the younger generations and want to talk and show them how they are becoming financially independent.

The depreciation recapture and capital gain taxes would flow through to your individual income tax returns.

As well as fully taking advantage of my privileges in working side by side with some of the most talented and optimistic individuals the net has to offer.

To separate gas service you will dealing with the gas supplier to actually install the meters, but you will have to have a plumber rerun the gas lines from where the meters will be to each unit individually.

He pointed out that those guys made much less than I did and that if I hired a roofing contractor their employees made less than me.I pointed out that while those guys earned less individually they would have 6-10 of them on the roof which probably added up to what I earned and that I had NEVER seen a "roofer" install a roof correctly.

[/list:u][list]Since we've all got the desire but no experience, would it best to find a person experienced at this at the local REIA and make them part of the LLC or maybe just hire them as a project manager/consultant[/list:u][list]If we wanted to get a hard money loan for this deal, would that be in the LLC's name or one of the individuals in the LLC?

TheTaxMan says that that cost segregation is out of the question for properties (less than a million) because the overall benefit does not exceed the time money and effort required to conduct a cost segregation for accelerated depreciation.But for individuals like myself that like to take advantage of taxbreaks without the burden of accountants, this website is certainly the way to go.I recommend that everyone be quick to take advantage of the website.

For systems, there are a few companies out there that cater to individual landlords who want to manage properties themselves, helping to find and screen tenants, collect the rents, and manage maintenance.