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[quote=Anonymous][quote=Anonymous][quote=Anonymous]We have several rentals, including part ownership in an office bldg. for the rental unit in the dc area, we manage it ourself. Management companies here wanted to take WAY too much. I spent money before I first rented it:  hardwoods put in on first level, steam cleaned carpets, painted the entire inside ($2k alone for inside painting), etc. I list it on Craig's list each time it is vacant and have never had a problem. I do have a credit check run, check jobs and then current rental history.  So far I've never had a problem. I owe very little on it now and probably net $1k/ month. I have had expenses come up and each time it is vacant I know I will need to spend about $2500 to get it ready to rent again. Still, I have had a great experience doing it. All tenants have been 2 yrs or more. [/quote]

Do you have any legal protections on yourself like putting the house in an LLC?  Did you hire a lawyer or accountant?  What area do you own a rental in?

I am thinking of purchasing in PG County.[/quote]

They are all in llc's. we did it ourselves, however for full llc protection, I think even the mortgage needs to Be in the llc's name. [/quote]

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