So I would say check with the Secretary of State for your state to see what the process is and how long it will take.

I want to do things right and to the letter as it pertains to the law.I was told by a landlord and realtor friend of mine that what you must do is open up a separate Business Account, in your own name (since the property is in my personal name (FHA) ), and then put the deposits in savings accumulating interest, and the checking is for rent.I did that, now the bank is telling me they can't really keep a business account in a personal name, and that it would have to revert back to a personal account, unless I call up the secretary of state and register myself as a business or a sole proprietorship.The funny thing is I already have an LLC, which I believe I registered as a sole proprietorship at the time, but I didn't want to mix the 2 because this property is in my personal name, and this LLC will be used for other strategies in the future.Do i register myself as a business, do i use my LLC for this account and set it up as some kind of management company here, do I let it go into a personal account and just use that, could that not be co mingling of funds, especially if I pay myself from there?

WRONG WRONG WRONGHIS secretary calls me TUESDAY MORNING and says they dont want the house anymore!!!

See Treasury Regulation 1.48-12(b)(2)(viii).The beginning and ending dates of the measuring period selected by the taxpayer.The adjusted basis of the building as of the beginning of the measuring period.The amount of qualified rehabilitation expenditures incurred or treated as incurred during the measuring period.A copy of the final certification of completed work by the Secretary of Interior.If the adjusted basis is determined in whole or in part by reference to the adjusted basis of a person other than the taxpayer, the taxpayer must attach a statement by such third party as to the first day of the holding period, measuring period and adjusted basis calculation.

If you want to form an LLC just pay the ~$300 filing fee with the Texas Secretary of State.

@Daniel FridrijIt’s $99 to file a new LLC through the Secretary of State.

Setting up an LLC is really simple, usually you can do it with your secretary of state pretty painlessly on your own.

If LLC, look that up with secretary of stateIf personal name.

Lastly, get on the HOA board as a treasurer, secretary, Vice President, etc.

He then told us through his secretary that the price was $27,000.