Otherwise, it’s treated as a partnership requiring Form 1065.Get an EIN (Employer Identification Number) from the IRS (free) for tax and banking purposes.Separate personal and business finances by opening an LLC bank account and keeping rental income/expenses distinct.Consider an operating agreement, even if not required by state law, to define ownership and responsibilities.Liability protection: An LLC helps shield personal assets, but you may still need landlord insurance and an umbrella policy to cover lawsuits and unexpected claims.Tax strategy: Rental income typically passes through to your personal return (Schedule E).

Happy to help—feel free to schedule a call with me through the link in my bio!

Begin by educating yourself through books like The House Hacking Strategy and podcasts like BiggerPockets, and join online communities for support.

Feel free to inquire about their staff qualifications if it's a larger organization.2.

Yes, there's a lot of information online, but nothing replaces and EXPERIENCED honorable agent.A seller whose listing expired with a different agent/firm is now my client; the other agent was from a town 45 minutes away from the flip property....the listing expired. 

Quote from @Michael Smythe: @Tuan Tran don't fall for all the hype about S8 by so called online "gurus"!

If you have any more questions, feel free to DM me.

Feel free to shoot me a call or text and I can get your criteria and make sure I keep you looped in on anything I come across.

I provided a free rent back for 2 weeks so the seller could get her funds and relocate.

If you're ever interested in seeing what's going happening on the western side of the state feel free to reach out anytime.