type of ownership
 

I have a few properties in the Village that I want to rent out and eventually make a business out of this. What would be the best way to go about doing this. Some people have said an "LLC" would be best, others have said "S" corp. I have also heard the term "Real estate Professional". What are the pros and cons and what do you recomend.

Assuming there is nothing in your deed restrictions that prohibit leasing the property or having the property owned by an entity, it would definatly be a good idea to have these rental properties owned by an LLC or a corporation if you are going to be leasing them. There are legal differences between an LLC and a corporation. There are also tax ramifications that you need to be advised about prior to funding these properties into a corporation or an LLC. I would need to meet with you for about an hour to discuss your particular situation before I could advise you which approach would be best for you from both a legal and tax standpoint. Please feel free to give me a call to schedule an appointment. (352) 365-2262

My wife and I just bought a house at TV. We live in MA and don't plan to live there for a few years yet. We plan to rent/lease the house until then. I'm think that I would like to set up an LLC, but I can't get down there. Can I call you and set up an appointment by phone?

Sure. My phone number is (352) 365-2262.