Currently, I'm pursuing a BA degree in Business with a focus on Finance and a minor in Real Estate.

Account Closed Contractors are businesses .

Purchase price: $31,000 Cash invested: $66,000 Sale price: $147,500 Converted an abandoned, condemned three bedroom, one and a half bath home with two rooms (one 30x15) unused/used as storage, and attached single car garage that we (my business partner and I) emptied (3, 30 yard dumpsters!)

I am a small business owner with like a dozen employees .

Sorry for the typo, Bigger Pockets doesn't give me a way to change or edit the title of the post.

I setup an LLC for my purposes of renting my first home and I am wondering if I need to transfer my mortgage / title of my first home into my LLCs name instead of my wife and my personal names. (1) Is it required for me to transfer the ownership of my first home to my new LLC?

I like Chicago Title out here in Riverside/San Bernardino.

Maybe this makes for a better title? 

If you use a DSCR loan like some others have mentioned, licensing works differently since that's a business purpose loan.

If you are installing them in 2024, the amount of bonus depreciation is limited to 60% and you can therefore only take 12.75% in the first year (plus normal remaining depreciation for a part-year asset).I'm not sure how the split would work between the residential credit and the commercial credit as this may be reported separately with the partial business use allocation happening first.