Q1: Great points, we'll need to have a detailed operating agreement that outlines an agreed approach to all potential outcomes.

**Joint Venture Agreement**: If you are partnering with another wholesaler or investor, this contract outlines the terms of the partnership and how profits will be split.

. - It’s recommended to have clear agreements outlining each party’s responsibilities, profit-sharing ratios, and exit strategies. 4.

We have two main issues that I will outline below: HeatingTwo heating systems in the home.

if its something that interests you I probably have a redacted LOI I could share that outlines the LL's work etc.   

Rent payments from the medical LLC are fully deductible as a business expense, while the property-owning LLC will report the rent as taxable income, which can be offset by deductions for expenses like mortgage interest, property taxes, maintenance, and depreciation.To ensure compliance, document how FMV was determined—using market comparisons, an appraisal, or similar data—and draft a formal lease agreement outlining the terms, rent amount, and responsibilities.

Getting more mortgages does not help me with the two issues I outlined - spending less time on real estate and freeing up head-space.

A few chapters in, I can't help but wonder—do the strategies outlined in the book still hold up in today’s higher interest rate environment?

My experience has been that although I outline the requirements for tenancy in my properties, both brokers and PMs still send people who would qualify for most property owners but do not meet my outlined criteria; and then are SHOCKED when I reject them.  

@Kyle Kulhanek To retitle your Chicago condo into an LLC for liability protection, start by forming the LLC with a clear operating agreement outlining ownership and responsibilities.