Ideal situation for Rental Income Properties
Hi all, I apologize for the newbie question.
What is the ideal way to setup legal entities for Rental Income Properties.
I know that you are protected well under LLCs that are holding companies.
1. Should I set one up for each individual property that I own/buy?
2. To maximize benefits and writeoffs, should there be another company or corp that owns all these LLCs, such as a mother Corp. If this is true, do you lose legal protection?
3. Can you transfer an "owner occupied" property to your LLC or create a new one to hold it?
4. What is the best way to smoothly transfer these properties to an LLC?
TIA.
-John
Mr. Vodka
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