I have low income rental units, that I consider high risk assets. I want to get them into a mulit member LLC with a well drafted operating agreement I already have.
My two questions are
How do I get the LLC’s expenses to flow over to my personal side if it’s a multi-member? I am employed and that is my 1st source of income and I would like to keep the deductions coming over from business to personal.
Second, who should I add as the other member? I own and manage these units myself. Maybe my wife or my DAD?? Will the same last name degrade the level of protection??