I am looking at a deal that includes a couple of pre-hud homes.

I know when I borrow money and granted its usually in the millions I have my financial package all ready to go on demand and it includes criminal and all my current licensed Mortgage banker RE broker etc.. just thinks its professional when you have those.. then if a potential investors wants to run their own.. that's fine.. but I won't give out my SS to just anyone it has to be worth it to me.. ( changing hats).So that's maybe a little of subject but the amount of people that I talk to that invested with a known shyster really does boggle me sometimes.

The basis would transfer over to LLC. this basis would include all the work you had done to the property when you bought 8 years ago if those were capitalizable improvements rather than repairs.  

You will probably end up using mileage allowance and not actual expenses that include depreciation.

$966 + 334.24 + $80 = $1380.24 (PITI) MonthlyMarket Rent $1500 (-)  Monthly Mortgage $1380.24 = $119.76 (potential cash flow) not including vacancy factor, repairs, capex, hoa fees, additional flood insurance. 

I mean including the subrubs of course, is it worth it?

My first preference is southern california-including areas such as palm springs which seem to have good airbnb potential.

Then, ask them if you can include the open house on a postcard that you're going to send out. 

@Qi Gao I would ask an accountant or an attorney before you do anything as far as structuring an LLC and including a foreign partner but from my understanding You can probably apply for the loan on your own and at the closing table you can do a quit claim deed transferring title to the LLC and or add your partner to the title of the property.

I've leased many times so know what to say to tenants - the pet discussion was thorough and often - we even delayed signing the lease as i was told by Mr tenant that his wife may want to buy a yorki-poo - (I was ok with it at the beginning but my policy is a higher deposit and I meet the dog) he finally tells me during our leasing process he does not want a dog and is deadly afraid of them and they will NOT have a dog in the house.The PM i'm partnering with in my business goes over today to do a property inspection - they hid the pitbull but the Yorkie-poo was found in the downstairs bathroom with a kennel and pee pads (meaning it's not potty trained) - I despise these little dogs as they will piss all over the carpet and since they're so little the tenants wont care or find the mess and clean it up.