If they are not in the state of business activity then it again generally needs to be registered with the state of the business activity otherwise it doesn't exist for lawsuots in that state which defeats much of the purpose of having one.You can have nested LLCs depending on your needs but that is generally used for high equity transactions, say $1m or more.

You could join a team and learn or become a transaction coordinator and learn that way.

I also have a large HELOC line available on my personal residence.Despite their language (above) the bank involved is (at least in my preliminary discussions) pitching a fit and indicating that if I use the HELOC to bring additional funds to the transaction or do 3 mortgages (pay down with my cash and then refi to get funds to do the next 3 and then the final 2) that it deems either strategy as equivalent to directly (and in the first instance) refinancing with another financial institution and will not release my collateral unless I pay their penalty.I am prepared to call this a mistake on their part and am seeking legal advice, but I am interested if anyone else has been through a similar episode.I don't get how they think I should be stopped from mortgaging my personal residence and then bring those funds as equity into the LLC's (the actual borrowers) to pay them (the bank) off.   

Hello all, my brother and I own a total of 3 properties with a 4th under agreement (has not closed yet - fingers crossed).

There may be ways to document the transaction to take advantage of the costs you incurred to renovate the property. 

style="-webkit-font-smoothing: antialiased; margin: 0px; padding: 0px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: 1rem; line-height: 22px; font-family: inherit; vertical-align: baseline; position: relative; overflow: hidden; height: 360px;">Hey everyone!

Crossing my fingers someone could help me find answers to questions that have been bugging me.

That is not my area of expertise, but as I understand it there are some similarities with the first type, as it pertains to structuring entities to complete transactions.

It's unfortunate but that's the way to refinance on the arv instead of it being considered a delayed purchase transaction.

After all, even $150 savings per month is equivalent to the cash flow from a single rental unit.One thought that crosses my mind is that I probably wouldn't make insurance claims on small things like appliance replacements, since it will increase the policy premium(?)