The parent will be the sole member and you will want to establish the tax ID of the new LLC to point to the parent as the responsible party for tax purposes.

Let me first start by showing my appreciation in advance for the read and responses. 

The seller is asking to give me a response by Monday the 14th at the latest after "crunching some numbers".  

@Joel Owens  Thanks for the response Joel.

Many thanks in advance for your responses.

So I believe I would pitch it where the 1st unit would be my responsibility.

I have recently seen some posts from areas around the country asking for advice on cash-flowing areas that get tons of responses pouring in, however anytime I speak with Long Island investors (at meet-ups, etc.) the consensus seems to be that they don’t invest on the island.Is there anyone who actually owns cash-flowing properties on LI (obviously I know people do but everyone tells me they invest out of state)?

The agent can:-Lose their access to MLS as this is a violation of the rules-The agent is responsible for all of your real estate activities so when you get sued so do they

Thank you for your response and yes im a new to the real estate game.

If Mayor Walsh thinks that Air B&B is responsible for rising rent prices in Boston, he needs to think again.My bet is that the regulation will pass.