Unless you are holding a huge number of properties or there is something unusual about your specific situation I question the need for even a single LLC.Most people can REALLY accomplish what they think they are accomplishing with an LLC simply by making sure they have a good umbrella insurance policy in place.

Hello:

I am considering converting the brick 2-car garage at one of my properties in Phoenixville, into a 1BR/1BA rental. 320 s.f. total, loft-type BR, baseboard heat, full KTN minus D/W, laundry equipment. W...

Customary carries more weight in enforcing any agreement than imagination.But, that's what gets attention and ultimately turned into some product, showing something new, different, profitable, unusual or that little know secret method presented with a skewed interpretation of reality or accepted thinking. :)

I still find this unusual and difficult to enforce.

looks like they have annual income at $7700, so about $3850 plus 142=$$4000 expenses, $3700 Net, before taxes...all based on normal speculation...assumes minimal upfront repairs, no major components about to fail, and no unusually bad tenants.

@Darnell Kramer Having flipped hundreds of homes, my experience has taught me to *ALWAYS (*unless extremely unusual circumstances) rehab first if I want top dollar.

BTW, just fyi, 14k tax isnt unusual, its just with residential that it seems weird. 14k is about what I pay for my commercial property.

kind of unusual situation but there are 80/20 mortgages from back in the day when they used to do that...

Is this unusual, or fairly the norm in your experiences?

The only thing unusual about the roof is it has two layers and the top layer is wood shake (cedar I assume).