I don't think my tax advisor is claiming depreciation for two rental properties and I'm looking for some help from the BP community. 

Hi guys,I love to see all of the success stories but I have noticed I just don't have the income to keep investing past 1 property. 

Someone will lend at a 33% LTV.All of this said, it sounds like the Trustee would actually like to say invested somehow.Option 2, put the house in a trust or LLC and let the rent be divided amongst the grandchildren:-All grandchildren remain owners of the property and the monthly income of $1,500(minus expenses) is split amongst the 6 grandchildren.I will warn that option 2 is more likely to result in long-term drama and likely some anamosity among the family members. 

I owned a 12 unit apart building in a very low income area with all section 8 tenants.  

In the past, RentingFamilyMember has filed Schedule E and apportioned expenses by rental percentage, including mortgage interest and real estate taxes between Schedule E and Schedule A.

Not for me, I wouldn't want to be forced to distribute 90% of taxable income  to shareholders.Private fund?

I would like to set it up so that I can basically hand reports with receipts to my tax guy and be done with it. 

This type of financing will typically look very different and more like a traditional commercial real estate loan.That means a DSCR calculated based on a full NOI and expense load (so inclusive of vacancy loss estimates, credit loss estimates, repairs and maintenance, utilities, management fees and more – in addition to the property taxes and insurance expense that are the only expenses factored in on traditional residential style DSCR loan financing).Additionally, the DSCR minimums are generally going to be higher (typically up to 1.25x), the loan to value ratios lower (higher down payments) and underwrite more sophisticated (which makes sense considering the size and scope of the property).Many multifamily investors for properties of this size (such as more than 11 units) can syndicate capital and have more sophisticated financial and entity structures – its definitely a different world once you get up here in unit count.In Conclusion – when you are looking to invest in multifamily real estate and finance your investment – make sure you have the unit count in mind before you start shopping – the unit range can have a huge effect on your options.

Infact, I would have to show tax returns on LLC for two years before I can include it in pre-approval. 

We are already a fortunately high net worth family. however, that is from my spouses W2 income, so at this stage we don’t really have anything tangible to “leave behind” and we want to try to build generational wealth for our child.