Imortgage Rob De La Torre phone# 2692082852tell him I sent you.

Not sure what else is needed in DE.

My home state is Illinois and I am considering Delaware, Nevada, or Wyoming to form my series LLC due to the cost but yet do business in Illinois.

My ultimate goal is to simplify and de-mystify the whole investment process.I am excited to be a part of the BiggePockets community, and I look forward to learning from everyone's experiences.

I imagine a gated cul de sac with 5-10 homes.

@Jon De Heus.

But if you make the "de minimis election" on your tax return, it can include expenses that are under $2500 per item for things like furniture, appliances, small repairs, linens, supplies, etc.

But aside from that, what seems to be even less settled is whether the de minimis safe harbor be used to qualify small improvements (under the $2500 limit) during the startup phase to help qualify what expenses can be included in section 195 startup expenses (and then either deducted as part of the $5000 startup allowance, and the rest amortized over 15 years). 

I've seen and read about the Delaware and Wyoming llc's but I think that is more beneficial later as my portfolio grows.Any thoughts are greatly appreciated, and!

I brought this up with my tax preparer, and they told me that despite meeting hours criteria that I de facto would not qualify because I am not a real estate professional.