If they have otherwise been good tenants you may just want to go up on the rent as that is what is usually expected and only switch to tenants paying water if these tenants leave.

You should consult with a CPA for guidance on that structure.As for the location of your LLC, you'll want to consult with an attorney who can advise you on domestic/foreign LLC options for maximum asset protection.

I bought my first property with all cash and just did a Debt-Service-Coverage-Ratio loan from a national lender.Cashed out refinance at 4.5% for 30 years at 75% loan to value ratio with ~8% in closing costs all in.Example property: $200,000 valueObtained $155k in cash back to be paid at $787/mon for 30 years.Will use the cash to buy the next property or to use for downpayment for the next few properties.This lender will also lend out to LLC in similar terms.Of course, since my LLC/rental are so new (just started 12/21), we had to personally guarantee the loan while keeping the rental under LLC protection against litigation.

Title cost’s vary so it’s always wise to shop and setting up your escrow are always a tough in the cases that multiple months need to be accounted for but usually those are done accurately to protect you so your HOI and taxes are paid timely and their is no shortages.

Is my area a good area for rentals since its more liberal and there's more laws protecting renters or should i just focus on fix and flips. 5.Who should i be getting in touch with such as based on what I'm doing?

Which in turn meant he wanted to do less work than a major flip, we switched our focus to properties with unfinished basements only, minor cosmetic issues and we found one that worked.

I'm very protective of my clients and get very excited in getting them the max cash flow possible.

For protection of assets, ease of creation, tax benefits, along with any other benefits, is Nevada the best state to create an LLC?

@Ronald Roetsel As Hoa mentioned, an LLC is a great way to protect potential liability on your personal assets.

From what you said, if you are just looking to house hack you want an investor-friendly realtor who understands the metrics and long-term cash flow potential in the area and you definitely want to buy that first house hack on the market so you are fully protected with inspections, etc.