Buying first rental property in Chapel Hill, NC

[Mike Marbry]

Hey everyone,

As the title states, I am close to buying my first rental property in Chapel Hill, NC. I am looking to buy a condo/townhome that my younger brother will rent from me.

I have found a few deals that will let me cash flow ~$200/mo if only by brother is living there and probably $600 per month if he decides to take on a roommate.

My biggest question is should I set up a corporation before I make a purchase? I know there are tax advantages but not totally sure how to take advantage of them.

This is my first rental purchase but hopefully won't be my last. I figured this would be a great way to get into the business and help out my brother at the same time.

Thanks in advance for your help!