I have seen that Dave and Frank recommend, management company, park LLC and homes LLC.
In this set up does all rent and all expenses go through the management company and then the management company cuts distributions to the park LLC or its members?
Or does the management company only pay for costs involved with management and labor and the Park LLC collects rent and cuts checks.
I have read every post on this forum and it seems like there are a lot of mixed reviews.
My real estate attorney says his strategy would be that the Park LLC leases the whole property out to a separate “Renter LLC” with a triple net lease. Then the “Renter LLC” assumes all liability and responsibility and the park LLC just collects one large check.
Any advice would be much appreciated! Thanks!