Setting clear expectations upfront with a detailed lease agreement is a must.Consider Property Management: If managing the property starts feeling overwhelming, consider hiring a property management company, even if just for the rented units.

Hi,I am planning on setting up a multi-member LLC either in North Carolina or South Carolina to house the rental properties under, and wanted to reach out to the community about which state is more favorable to holding rental properties - assuming that the property can exist in either state.Thanks in advance!

Can you sell your currently live in property to your LLC?

It seems in order of increasing profitability:LTR < MTR < STRGiven that I'm based in the Denver metro area, unless I'm occupying the property as my primary residence, STR is out the question, as Denver has cracked down on the short tern rental laws.

Will your savings grow faster than property values?

I have found using our property management software to communicate as a way for it to be saved 3rd party and reliable for legal matters.Forbes article 1-2024

I recently went into a 50/50 LLC with a college friend to buy our first property in the college town we attended.

Diverse potential property that can be turned into a STR, MTR, LTR.

Welcome to BP - do you have your eye on any specific properties already?

Hi, I'm considering buying a property and would like to connect with fellow hosts in the area.