I am in the middle of putting my rental into an LLC in the USA, and I got a few unknown things. I am the sole owner of my rental, and am also sole owner of the LLC.
1) after put into an LLC, would I get some trouble from the federal gov for tax issue? would the rental be treaded as a sale and than I need to pay some kind of capital gain on the sale?
2) after put into an LLC, what about the title insurance? do I need to buy another one?
Thanks for anyone’s help here, and have a great day!!!!!!!!!!!!!!