Thank you in advance for sharing your thoughts and expertise on the matter.
We have a family Cabin we currently rent out on VRBO in Northern WI.
My Parents are deeding the Cabin to the three sons.
Each Son is in a different place in their life and has different views on what to ultimately do with the cabin.
- Start an LLC (Out of State) Like Maryland or Florida with no income tax
- This would enable purchase of more vacation rentals in the area to be managed similarly
- Build additional properties on the land and expand + Rent out.
- Make the cabin available year round during Northern Wi which would require maintenance and updating.(Should Happen Anyways.)
- Create LLC with three sons in it and start a separate management company to handle all the cleaning, renting, promoting, maintenance of the property.
*** Open to other Ideas,
Large Piece of Property with great potential nice 4 bedrooms 2 bath Cabin worth about 350K on a spring fed sand bottom (no weeds) Lake
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