Philadelphia, PA · Member since 2017 · 1 post · 0 votes
I'm in the process of rehabbing a SFH in Pennsylvania with the intent to sell it for profit. I used a HML to fix and purchase the home. The home is owned by my LLC. (2 members). I'm currently renting an apartment and am having problems with my current landlord and would like out of my lease.
Can I refinance the rehabbed home, pay back the HML, and rent the investment property to myself? What would be the implications of that?
Investor · Columbus, GA · Member since 2014 · 2k+ posts · 1k+ votes
7y
Dude, really? You own the LLC, thus the property so if you live in it, it ceases to become an income producing investment property. I think you are missing the point of being an investor.