If you want to be a "perfect person" you can even notify the lender of that transfer and show them that your rental income will cover their mortgage easily.long story short, just having any LLC is not really the question or an easy answer.If you can see yourself developing a portfolio of properties so you can create sufficient cash flow to live off it and no longer have to have a job, then doing it the professional way, create a business (Operations LLC) and put your assets in Child-LLC's for asset protection is the professional way to go.Yes, you can live without all that but please be aware that in a case of a lawsuit for whatever reason, all your assets, your income, your primary residence, your car, 401K, anything of value can be used to pay for any judgment against you as the result of a lawsuit.I recommend going the professional route from the start, not because it is legally needed if you only have one house, but because it is part of the overall investing journey.

Depending on his answer I’d start looking He said he had to take his car into the shop the very day he told me he could look at it.

We have an extra car, which we plan to keep at the property.

While on demand are super hot, they don't actually save enough over NG to justify the switch, and they have higher lifetime costs, so it comes out in the wash. 

We do not need to go to Mexico anymore, I can avoid the airports, the mountains of stinky seaweed flowing onshore, the machine gun road checkpoints, the scams at the local market, etc. and get in my car and drive to Florida.Unless you travel first class flying is now a truly painful experience.

One thing to point out (at least based in Los Angeles county) is that if you permitted the work (guessing you didn’t), that would have caused a increase in taxes, so depending on the amount and type or work it may be a wash.

The home you own is much larger than your parents, you now drive two cars instead of one.

Come the beginning of 2023, the only debt I'll be liable for is a $500/m car payment.

Driveway, walkway, maybe power wash the exterior? 

The worst part of renting to my Parakeet tenant is that her cars are spotless, her house is spotless, every time I go over my car needs to be washed and all I can think is they must look at it and think "geez, there goes the neighborhood" lolOne of my best tips, I learned from a friend who owns 50 plus rentals- always collect the rent in person.