Alison Miller - That is great advice, and in fact I've developed my own software to keep track of all my leads and mailings.

Hello BP forum -I'd love to hear how other landlords approach asset protection as it relates to your rental properties.

Take care with the "events of withdrawal"of members, even a one member, as some, if not stated, will take effect by law.Pay attention to the segregation of funds and assets.

Long story short, is an Accountant worth it for this number of properties or would I be money ahead using a tax software to prepare my taxes?

It looks like whatever software they use to pay themselves from the business (since she is "president" and he is "manager") is clearly *really* cheap and primitive.

I have $30k in cash, $55 in liquid assets (stocks) and about $75k in illiquid (retirement accounts).I am currently renting an apartment.

If somebody else is going to be doing the asset management and property management, it may be ok to never see the property as long as you trust the operator you're working with.If you are going to invest in it on your own, I think you need to see it!

Most of the time the investor does not buy an index or average for either asset class so the comparison is a bit false.

Held for investment means an asset you are holding for the long term growth plus the income.

It is from having it established correctly and operating correctly so if there is a legal challenge in the future the LLC passes the test.If you think you have assets as risk and want an LLC then handling it wrong is not really much better.