The LLC outlInes how the assets are treated and divided.

I simply divide the water bill across the tenants and bill them individually...never had an issue.

Describe how your company’s work is divided and/or the number of units each person manages.

Keep it in my name and divide the electrical cost by three each month and have them pay me? 

Where things get less clear for me is what the best exit plan is, do we sell right after the lots are divided and build able, or do I hire an architect /  GC and build myself, or would a builder want to partner with me for providing the lots free and clear.  

Lots that are sub dividable.  

When that grievous error is made, it means a mortgage underwriter is going to default to dividing six months of rental income by 12 months, and effectively only give credit for half of the actual rent - the mortgage underwriter is just reading what you wrote! 

The divider is on Decatur.For long term rentals, Vegas is better, as NLV handles the billing of water/garbage/sewer/recycling.

Still, they are all valued base don their ability to produce income.Cap(italization) Rate is NOI divided by the purchase price.

You would need to divide up the interest paid for the HELOC and apply the appropriate amount to the right Schedule E.