There may be a special assessment by your HOA, a plumber may have to come over to fix the toilet, the stove might come to the end of its useful life, there will be a vacancy, etc.

But in the end, it's his life.

What I do has nothing to do with the life-style the tenants live.

That book is amazing, and my whole outlook on life, and being an employee has done a complete 180.  

I have some experience with multi family properties and have lived in Kansas City all my life. 

With LLCs, earnings typically 'passes through' to the owner of the LLC and you then pay taxes just as you would individually.If you plan on long term real estate investing, the duration or life of the LLC may become an issue in securing certain types of financing – especially under the name of the business entity.

The “WHO” of your life and business is a vital point for you to consider regularlyBusiness is about more than making money.

I will say that if I am the only one reading the ongoing saga, it still is cathartic to be able to vent the emotions on this forum.Keep in mind when working a deal that each deal has its own life blood, ebb and flow.  

They have a ton of real life examples of people being successful in real estate,Hope it helps.

I believe his concerns were unfounded, but it is his money, his life savings, so I can't fault him.So onto the matter at hand.