Personal Loan to Fund an LLC for REI
I have taken a cash-out loan on my personal residence to fund an LLC in which I am buying real estate.
From an accounting standpoint, what's the best way to structure this? Can I consider this cash infusion into the LLC a loan from me, thus making the repayment of the loan a "business expense", thus a taxable write-off?
Any advice or ideas would be appreciated.
Thanks!
AJ