@Alejandro Lerza cost of doing businesses if you wanna level up.

@Angie McGuire yep

- If both my wife and I are on the loan + RE contract, can we still set up a single member LLC in my name only to avoid having to file two returns? I'm the sole income earner, so there's flexibility for us to just have me on the contract & loan as well, if that's needed. RB: Yes you can get by with this. - We've been thinking of setting up a revocable living trust already, but would you recommend we wait until we close on our first STR (hopefully by EOY) to get this set up so we don't have to amend it? RB: The trust is an everchanging document. You will have to update it whenever you buy/sell properties. You could wait to buy the property to set up the trust, or set the trust up and add the property to it.

@Adriana McLaughlin at property inception your equity is essentially your downpayment. But total equity >$100k then LLC

@Teneisha Tyus thanks for sharing

@Daniel Sleep there’s certain Fannie/freddie loans that require 10-15% down that can be used for vacation rentals

@Rachel A you gotta get to level 3.

@Esperanza Pena you need to post stuff/comments that people like.

https://www.skool.com/taxes/classroom/168544a7