We are not professionals, nor should any of the content here be used without professional validation to make decisions for your situation. Since entries appear with the most recent on at the top, if you would like to read in a chronological order start at the bottom.

If you feel that the experience shared here has helped you save time and money please consider donating to help spread the costs of acquiring it. Any contribution is appreciated. By way of thanks, anyone who donates will receive bonus materials:

- Current copy of detailed notes

- A sample accounting spreadsheet we use instead of costly accounting software

- A sample Statement of Qualification and Operating Agreement for an LLP

Thanks and good luck with your property!

Tuesday, December 29, 2009

Ongoing Care/Feeding of an LLP

File annual “return” with AZ SOS to keep LLP in good standing. See AZ SOS website for procedure and form

Pay HOA fees – quarterly is our experience

Pay property taxes – semi-annually (March and September) is our experience

File income taxes

Otherwise the management company looks after operations – monthly statements show revenue and expenses.

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