while maximizing tax deductions
Setup a Limited Liability Company for each of your real estate properties
Prepare a Quit Claim Deed to transfer the ownership of the real estate asset from your name to the newly created respective LLC
Open a bank account for each of the LLCs
Maintain separate books and records for each of the LLCs to keep track of income and expenses by each individual real estate property
File separate tax returns for each LLC, assuming there are two or more members (owners) for each LLC
Renew your LLCs with the state of registration on an annual basis