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General Landlording & Rental Properties

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Joshua DeGroate
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Moving into new home, renting out old home. LLC concerns.

Joshua DeGroate
Posted May 11 2023, 17:46

Hey all,

My wife and I recently went under contract on a new home. Our intentions are to rent out the house we are currently living in. We want to start an LLC for the tax benefits of being landlords and managing the property ourselves. Here is where I'm stuck: do we absolutely have to put the LLC on the house title to get the benefits? Can I start up an LLC with the wife and justify the business expenses of managing the old property? This is our first big investment move and I'm just trying to get some clarification,/guidance.

Thanks!

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