In the end I want to develop this small S-corporation as large as possible, employing people and achieving a properly built corporation. If only to consider nothing out personally simply reinvest money into more property. What structure must I use? Could I keep your S-corporation?
Answers (1)
You need to dissolve the S-Corporation, and form separate LLC's for every apartment that you simply own. For example, should you have had a house at 123 Primary St., you title your LLC 123 Primary St., LLC, and so forth. You wouldn't want all your rental qualities in a single company, for liability reasons. Should you wished to begin a property management company, in which you would funnel money in the LLCs to one convenient location to pay for payroll, along with other things, that might be fine. However, the qualities ought to be placed in their very own LLCs.