Rental Property Investor · Saint Paul, MN · Member since 2019 · 21 posts · 7 votes
Hey BP---
I am looking to buy a duplex to househack in the coming months. Question is, should I buy as an LLC or personal? I want to keep investing into more properties in the future beyond this duplex but do not want to have to pay later taxes if I sold from my personal to LLC. I understand there is no benefit to renting my own LLC property out to myself ( an possibly legal ramifications?). Has anyone encountered this and how did you navigate?
Contractor · Fargo, ND · Member since 2019 · 24 posts · 6 votes
6y
Always use an LLC and keep your personal and LLC expenses/revenues separate. You can pay your LLC rent without issue. You want it in an LLC from the start.