After several phone calls and meetings, with accountant, financial adviser, and attorney,  (my team) I have decided to go with setting up a new LLC for this property.

I really want to take a loan against my rental building so I can buy more investment properties, but my situation is I don't have tax returns ( new immigrant and this property has only generated income for 6 months), any suggestion on which financial institution can help a case like mine?

Always contact their previous landlord, if they don't have one reject their applicayion.I place a great deal of emphases on credit score since it is a measurement of financial responsibility and financial planning.

Talk about a conflict in philosophies of becoming financially free!

. :)Caution: not every investor is in a financial situation where extra depreciation is helpful.

I'm always looking for encouragement for myself and people I work with to show that financial freedom can and IS created through real estate.Would anyone be able to post some links to some great financial freedom stories here on BP!?

Those condos are apparently “non warrantable”.....they don’t qualify for conventional financing due to investor owned percentage of units, bad financials, etc.

The financials look very strong to me.

This is an active rental property and the lease lists the personal name not the LLC.I believe they have good intentions, but I want to make sure to protect myself.

Good idea to put together a Personal Financial statement and an intro letter to introduce yourself.