@Ted Eads that's it on the renter, yes.

yes, but rental property is a special case and goes on schedule E Remember, a single member llc is a disregarded entity, so if you operated a car wash in your own name, it would go on C, but rental property in your own name goes on E - adding an LLC (disregarded) doesn't change that.If you had a partner, you'd need a whole different form altogether, a 1065 instead of a 1040- ask your accountant once you get one

@Ted Eads ,Thank you for searchtempest.comRaymond

READ, READ and R E AD some more. 

Hi,My name is Austin Eads.

You don't want them calling your office and asking to "speak to an agent about selling their home" because now you just gave a ead to your office,...and not you.

Thanks to my friend, Alabama tax sales attorney Greg Stanley, who alerted me to this issue. He and his colleagues are seeing a number of improperly written deeds prepared by non-lawyers, that are causing major headach...

We would re-deed the property as  Joint Tenants in common (vs LLC because after the current tenant leaves in August, we would move-in and rent out the basement and would want to obtain an owner-occupied cash out refi loan to pay off /down our respective debt. 

We would re-deed the property as Joint Tenants in common (vs LLC because after the current tenant leaves in August, we would move-in and rent out the basement and would want to obtain an owner-occupied cash out refi loan to pay off /down our respective debt.

Should I convert my existing LLC into a series LLC and redeed all existing props to sub series and create new subs for rentals?