A natural person, a corporation through its officers, a partnership through its partners or a limited liability company through its members or managers that deals in selling, exchanging, purchasing, renting, leasing, managing or pledging the person's or entity's own property, including cemetery property and membership camping contracts, and that does not receive special compensation for a sales transaction or does not receive special compensation or other consideration including property management fees or consulting fees for any property management services performed, if the majority of an officer's, partner's, member's or manager's activities do not involve the acts of a real estate broker, cemetery broker or membership camping broker as defined in section 32-2101.Turns out my colleague got bad information from a local lawyer.

One day years from now a co-worker will find out that you've accumulated quite a few properties and will be astonished, just assuming that you must have received a substantial inheritance to do what you have done. 

Figures Mortgage 94kInterest 7%18 year left on loanPni/taxes/ins 1000 monthRent receiving each month $500Rental rate about $950Estimated repair costs 4 or 5k to get it rented just a quick guess here 

However, we highly recommend that you get a dedicated fax machine on a dedicated phone line that does not require you to flip a switch or turn it on for it to receive faxes while you are out.

We are currently at about $3500 below the counter we received from Fannie.

I stumbled on  this 1 year old post accidently, when trying to research what is it I received in mail from city called "2018 REFUSE COLLECTION FEE"That came for duplex that we bought in spring this year.

Eventually I hope it will be all RE related.So any suggestion is well receiving!

@Jillian JohnsonFollowing is some information regarding the self-directed IRA LLC.The Checkbook IRA Do’sDo open the checkbook IRA bank account in the name of the LLC, not in your personal name.Do use the LLC employer identification number (EIN) when opening the checkbook IRA bank account.Do title checkbook IRA investments in the name of the LLC, not your personal name.Do pay investment expenses associated with the checkbook IRA assets (e.g. for a real-estate property, this entails paying property taxes, property insurance and repair costs) using checkbook IRA funds not personal funds.Do deposit investment gains into the checkbook IRA bank account.Do manage the checkbook IRA but do not receive compensation for doing so.Do make IRA annual contributions to the self-directed IRA first not the checkbook IRA.The Don’tsDo not use the checkbook IRA funds for your personal use.Do not use the checkbook IRA assets (e.g., for a rental property, do not live or vacation in the property).Do not perform repairs on real-estate property owned by the checkbook IRA as you are a disqualified party.Do not deposit personal funds into the checkbook IRA bank account.Court cases that support the Checkbook IRA arrangement Swanson v.

An S corp would offer some protection, but if it's actually worth it is very situation-specific and depends on other factors including how much income you receive from your W-2 job, etc.

The only thing that happened is that I received a check for $350 for helping someone with a lead on a house, but they paid me by check and it was made out to me and not my LLC.