Can I live in a house owned by my LLC?

[Simon Obas]

Hey y'all! I'm interested in buying my second home under an LLC! Can I House hack with an LLC? What are the benefits of buying a house using an LLC?

[Drew Holland]

@Simon Obas From my understanding and experience you can yet need to pay rent to the LLC; that's how I've seen it before. as @David M. said, you'll incur additional costs to move money from one pocket to another, yet I understand the benefit to doing this if you're going to do it properly and completely.  To clarify, if you're going to have an LLC, it should be created for the property itself (and only that property/asset) and then put it in a land trust as well.  Make sure banking and books are separate and clean.  Otherwise you're using the LLC incorrectly, IMHO.