And, as you continue to buy more properties and form more entities to segregate your assets, you may decide to form a parent holding company to reduce tax preparation fees, ease administration, and add an additional layer of asset protection between your properties and you personally (shown as HoldCo, LLC in the sample organizational chart).As for which form of entity to use, it can be state specific, so you should seek advice from an attorney practicing in your state.

Side note: Rochester, NY is considering (heavily) rent control.

(I’m thinking of something like charging your parents $1/mo rent and writing off all the expenses as a loss against income.)This isn’t one of those snarky responses you sometimes see on BP I seriously want to know as this belief of mine prevented me from making offers to owners who were stuck on their severely over market price.

If I sat here and handed out $100k to every single person just to be nice, there would still be a problem with it (like why are the people who already have money getting some or shes just doing this to control us later etc etc).

Adam feel free to connect on BP, funnily enough, the town of Lincoln met last week to discuss putting new ordinances in place to better control STR's and Thornton have a meeting this Thursday to do the same, which I hope to attend.

I can easily enough talk to them although I feel I am not their parent and they are now adults.

No PM software has control over your 'payment transferring period'; ACH will always take 5-7 days because of regulations.Other Needs:  Lastly, what other needs do you have for your real estate management? 

I am trying to look into options for my cousin to refinance.He's got a loan with his parents and he wants to remove them completely.I was wondering if there are banks out there that would allow him to use lease agreements for rooms toward his income to allow him to refinance under his own income.Or is there a better way for him to do this without enough income?  

Full disclosure/twist: I created this account to ask questions for my parents who want me to take over as a property manager at a 22 unit they own.

I was hoping to purchase a couple of properties from my parents with the ultimate goal of minimizing tax burden for them.