Perhaps he's setting up a charitable remainder trust or some kind of estate planning vehicle.

On the second side we punch and keep the rental agreement and any changes to the rental agreement, plus the move-in condition checklist and on top we place a Tenant Information sheet that we update as needed with the tenant contact details, vehicle information, and emergency contact (and next of kin) information.

I have a multimember LLC taxed as a partnership.For one trip using my personal vehicle for the purpose of renovating one unit at an apartment complex, total mileage = 100 x 53.5 cents/mile = $53.5Does the LLC then reimburse me for that amount, so that the expense now becomes the LLC's, and not my own?

If the vehicle is worth at least $20k, there won't be any problems. 

@Thomas Rutkowski– Tom raised the bar in ensuring I had all questions answered when it came to leveraging permanent insurance as a wealth accumulation vehicle@Ian Ippolito – for the great resource on passive investing that is his website@Steve Babiak – As a fellow local Philly investor, the knowledge and experience he has shared through his many, many posts are nuggets I’ve always appreciated.

You could also end up with too many vehicles parked on and near the property if the house is on a circle and parking is limited.If I were to do it would definitely want to devise a good system beforehand for how to select the new people when one moves out.

If I ran a ferry moving vehicles across a river and had to refit new or rebuilt engines, I'd need to amortize that cost as it extends the useful life of my asset.My example of a furnace filter holder probably was not a good one, if it's a minor cost and the useful life can't really be determined that repair could well be an expense.

I am considering purchasing a vehicle to be titled in the LLC.

What kind of advertising do you have on your vehicle...

I want experience with other vehicles and strategies over time, so that I might be able to wholesale, partner on, finance, or invest in special situations if the right opportunities come around.