Single Member LLC vs Multi-member LLC (spouse)
Hey BP,
I hope everyone is doing well. I am in the proess of completing a cash-out refi on a triplex that I own, and I thought it might be a good time to transfer it from my personal name to an LLC.
My realtor is suggesting we do a quit-claim deed after the cash out refi is complete.
I am wanting to start and LLC, but i have questions from two perspectives:
1. From a tax perspective in Florida, is there an advantage either way.... just myself on the LLC or my wife+me
2. From a property buying perspective, does it matter if we are both on the LLC or not? eg we should be able to both get 10 mortgages/properties in each of our names. If we are both on the LLC's, would that limit us to only 10 between the both of us?
I appreciate all of your help!
Scott G