I'm not a lawyer but here's what I would suggest:1) decide if you are going to act as the registered agent, or pay someone to do this (you may have already done this during setup2) Set up a new Quicken, etc. account dedicated to the LLC3) buy a corporate kit or at least by a binder so that you can keep LLC docs organized.

It's not uncommon for the corporate status of the declarant to be forfeited as it is essentially a single purpose entity.

Hi so I've been investing/managing several small residential units for about 10 years.I have a family member who is willing to put in $300K cash for investing in a commercial RE property- most likely a multi family in Southern California- Los Angeles area.I was wondering how much of a loan we could get with this $300K down, very good credit above 800K.Also I was wondering if I could partner with him with an S Corp or LLP.

The profits and losses are passed through to the members, unless you elect to be taxed as a S or C corporation.

In the public comments, you may read things such as:- Bank owned- Corporate owned- Proof of Funds or Pre-qualification Letter required- Resale restrictions- If there is a "Case #" it's likely a HUD- Anything about investor offers not being accepted for some period of time- If it mentions a bank name: Fannie Mae, BoA, Wells Fargo, etcAll that said, a lot of times you'll need access to the Private Remarks to be sure.

., 3) and balance sheet in order to plan your finances to banking guidelines so that you not only obtain financing but you do so while minimizing the burden of unnecessary taxes, increase cash flow, manage debt expense/rates, and increase equity growth.Most loan officers will struggle with just getting you a loan as they are used to W2/salary/hourly borrowers with very simple scenarios.The hard part about working with self employed/ business owners/ investors as borrowers is that as a LO you'll have to sometimes comb through multiple partnership, corporate, personal returns, amortization schedules, and other tax schedules to determine, analyze, extract, and find additional income to make a scenario work and it not only takes financial analysis skill but also knowledge of the guidelines and most crucially how the LO can sell the "story," whether it be income, occupancy, asset seasoning, or other to the underwriter to ultimately get you an Approval with the least brain damage as possible.Beyond the analysis and loan qualification skill they will help present you with different scenarios to better your investment return, how to obtain your capital again after an acquisition, strategies, timelines, and generally figuring out ways to make your untouchable equity turn to a lump sum of cash (cash out), or how to convert a jump sum of cash into streams of income (vice versa).

We have put some in my name, some in his name and some in a corporation name, even some in my parents name!

I just started getting into investing towards the end of February where I attended a 3-day training through the Richdad Program, since then have taking a wholesale class and have read quite a few books on real estate investing, taxes, corporations, self motivating, etc.

That doesn't scream high net worth, if you know what I mean.Chapter 11 use to be only for large corporations, allowing them to stay open while reorganizing.  

Then the letter its self was written on a small yellow lined note pad.And its well done the message was a little stereo type ( but I have been around this 35 years so all the pitch's look the same to me)  Had the buyers personal name not a corp or LLC.. explained they need to buy FAST , going to pay CASH, and 30 day close all the buzz words.