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Recent Buying Rental Property questions

I am going to buy rental properties in Michigan. i was

I am going to buy rental properties in Michigan. i was advised to have an LLC for each individual property. I need advice on how to set this up and consultation regarding any other factors I should be aware of (including registered agents).

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Loren

Juris Doctor

37,126 satisfied customers
Now that you mention it,, I know this might be a little off

Now that you mention it, Richard, I know this might be a little off the wall, but I like to keep tabs on industry trends. So, if you don't mind, what are the top three real estate law questions you get asked - in broad strokes of course. For instance, I imagine questions about buying rental property for investment reasons are quite common....

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Richard

Owner

Doctoral Degree

47,058 satisfied customers
Im a US citizen living in USA. My parents are foreign

Im a US citizen living in USA. My parents are foreign nationals (Indian) and currently do not live here. They however visit me every year or so. My question is if they can legally buy rental property here in the US? They would like to buy the property on cash and have the monthly rent income deposit in a US bank for their retirement. Do they need to get a ITIN# ***** buying the real estate property? I found out from a bank and they said they can open an account without a ITIN#? What does IRS say about the income? Can they legally own a rental property in the USA?

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Loren

Juris Doctor

37,126 satisfied customers
PA** When does frontage matter when it comes to buying

**PA** When does frontage matter when it comes to buying rental property? We see a property that is at a great price, however it is located 'rear' of the road, with no frontage and it does not border any legitimate street. If we plan on using this propertyindefinitely as a rental, will not having frontage be an issue?

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3,820 satisfied customers
I wish to start consulting services for aspiring small time

I wish to start consulting services for aspiring small time landlords in the state of Tennessee. For a small fee I will help them with the process of buying rental property,finding tenants, leasing and maintaining. I am not a real estate agent and I have nothing to do with the field. I wanted to know if I would require any license for this business?

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Ely

Counselor at Law

Juris Doctor

64,508 satisfied customers
I am buying rental property in Indiana. Is it best to incorporate

I am buying rental property in Indiana. Is it best to incorporate the management part of the business and have the properties be under that corp. Or, should I incorporate each property individually?

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Law Educator, Esq.

Attorney At Law

Doctoral Degree

108,142 satisfied customers
My clients house is in foreclosure and he has a friend who

My client's house is in foreclosure and he has a friend who wants to purchase the house. The friend would then lease the house back to my client after purchase. Considering foreclosure laws, is it okay to do this? Are any transactions "forbidden"?

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Ray

Lawyer

Doctoral Degree

35,860 satisfied customers
I sold m house with a short sale and have $30,000 line of credit

I sold m house with a short sale and have $30,000 line of credit still outstanding. Should I try to buy a rental property to have some way to pay this back? My current income is not enough to make substantial payments.

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Richard

Owner

Doctoral Degree

47,058 satisfied customers
In buying a rental property in a college campus area what is

In buying a rental property in a college campus area what is the best way to deed the property for least amount of risk to our personal home and wealth from unforeseen liability. Our daughter will occupy the premises and will find 4 additional tenants.

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PAX Attorney

Attorney

Juris Doctor (JD)

586 satisfied customers
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