@Elizabeth GomezHaving an LLC without a business leaves no benefit.Having an LLC doesn't necessarily just make things like cell phone bill, gas deductible.Once you have a rental that is placed in service - you can benefit from being able to deduct items that relate to that business.

I personally have been expecting the government to initiate a mortgage and rent funding bill to pay everyone (penalize no one) and push the economy further towards healing.

Funds are supposed to be used for working capital which I interpret as paying recurring bills including mortgages but if you follow David's strategy, I would purchase new properties in a different entity from the one you used to take the loan out with.Originally posted by @Nicky Reader:Originally posted by @David R smith:It could effectively be used by buy properties, as you could pay off existing mortgages (acceptable use) and use that equity to acquire new ones. 

I have to bill the owner for his labor and the materials cost, in addition to running payroll for the maintenance tech (which comes with its own overhead costs). 

If you can afford paying the bills, rehab costs for a BRRRR, and all the carrying costs associated with it then go for it. 

We were getting billed for about $200/month in maintenance... 

Hi @Nestor Quinones, you can look up a single-family, multi-family, or condo unit's tax bill on the NYC Dept of Finance site: https://www1.nyc.gov/site/finance/taxes/property-tax-bills.pageFor co-ops, the taxes are included in the Maintenace Fee (HOA).Hope that helps.

This new rent will take effect on your [next billing date more than 30 days out].

@Steve Morris   @Bill Horton  Thank you!  

The boiler units landlord pays a high water bill and often also the gas bill, they typically also rent for lower prices then hvac heated units especially when it's those big radiators as in photo.