In addition, I've never been involved in any major home renovations and I'm not particularly handy so the the prospect of managing a contractor from afar seems a little daunting.

An LLC will not change your tax liability at all; income is passed through to you and reported on your personal return.One note about the filing requirements, though - If you're the single member of the LLC, a separate partnership return will not be required.

Im New to the website but highly interested and motivated to get involved in Wholesaling.

Caselaw only gets reported when the law is unclear.

And all my family members are very discouraging about the risks involved in realu estate.

Check out Guardian Water & Power, their smart (water) meters are in the $150/ea range (not including installation, but they'll arrange for that too) and do not require any involvement by the local water utility.  

You may even want to set up different entities for the different type of activities you'll be involved in to maximize tax benefits.

@Rudy Brown hey guy, no they don’t however I’m in New York check with your lender to make sure you have everything some lenders require even more in escrow when there rehab involved... my last one closing fees totaled 62k really!

Also as a property here in CT I also show my clients the full credit history/report/application of the potential applicant as well as their references. in reference to the amount evictions you are having one per year did you ever take a look at any of the tenant application packets before the PM signed a lease with the tenant?

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