When earning money in rental property investing, where do you hold your earned capital? I'm just starting out and am not sure if I can put in a business checking account, SDIRA, or regular account. I plan to draw monthly amount later down the line for myself to be able to quit my job and am not sure if I would need to create a LLC and file my earnings under a W2 for tax purposes. Maybe I have this all wrong, but want to make sure I have it squared away before getting in trouble with the IRS.
Hey @Franky Rodriguez I hold my rental property income in a business checking account under each respective LLC. It's pretty simple, but a pain to set up and manage
@Jake Stuttgen thank you so much!