First time investor/landlord
I just purchased a duplex in Kentucky with tenants already living in the units. I was wondering if it's worth it to start an LLC or other type of business with only 2 units? Additionally, if I did start an LLC should I have a separate business account for depositing the rent into.
Most Popular Reply
What is the reason for looking to start the LLC? is it currently mortgaged? There could be risks of the mortgage being called if you change the deed.
I own two of my 3 rentals in LLCs. I think it is worth it when you purchase it, but I would hesitate to do it after already owning it, unless you have clear reasons of doing it.