I didn’t paid the 10% penalty fee. 

Keep in mind that these loans can come with slightly higher interest rates and shorter terms, but they do allow you to keep your investment separate from your personal finances.Switching the Property to Your LLC:Transferring the property to your LLC can be beneficial for a couple of reasons.

The Registered Agent will record the documents on your behalf so only their name and information appear on the documents.

With the exception of finding the tenants (I use an agent) I manage all maintenance aspects of the property but am coming to a point where I might want to move on and considering doing a 1031 exchange to of course avoid Cap Gains and invest in another property closer to my primary residence.

You can deduct up to 25k in rental real estate losses against non passive income to the extent your income does not exceed 100k.

Also real estate prices have gone up and looks like slight correction in this market but prices are still high. 

Purchase price: $320,000 Cash invested: $90,000We bought this property off market from a wholesaler what first started out as a partial renovation ended up being a full renovation.

We’ve told our renters that they’re still responsible for rent until through the duration of the lease term until we find new renters, to which they were surprised.

About a month ago our renter called to say that the water is leaking through the air vent from the ceiling.

I looked them up.