I need the LLC basics
I have spent the last couple of days going through the forms reading about LLC's as they pertain to real estate. My wife and I have already decided to start one, and we have sent the papers to the state. Having been a property and casualty insurance agent, I understand the liability side of it. (Or at least I think I do.) However my questions are more basic then that, I'm wondering where do I find the rules? How do I operate the LLC? What do you mean by real income versus passive income or what ever the different types are? How do I move a property under the LLC? How do I pay my self? As you can see there are many questions, and I can't find a good source of information to help me answer them, any advise would be greatly appreciated. My wife and I want to do it the right way, and not just fly by the seat of our pants. We are looking for the nuts and bolts, great I now have this how do I use it?