I actually like Texas, just not for a long term investment…The great thing about Texas, you won’t see shit like this
http://www.eatliver.com/insane-fashion/#more-24967
Boy they sure look ugly… 
Why invest in Detroit when there is Antioch, Vallejo, and Richmond.
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I wonder if you guys using LLC to hold the properties ?
If Tax reform is approved, it is good to hold under LLC or S-Corp as you get taxed at 25%
How do you transfer mortgages into LLC?
You need to talk to the lender to transfer the mortgage in case by case. They may agree or may call off the mortgage if you don’t communicate with the lender beforehand. I have couple if propertoes with no mortgages, so it m should be ok for me. I am not too concerned on the tax, but the liability will be less with LLC.
Issue about LLC was discussed previously under the umbrella insurance topic. Tax treatment of LLC is irrelevant if you make losses. Current mortgage would need to be paid off as they are personal loans. If you need a mortgage for the property in LLC, a commercial loan would need to be established. LLC is formed mostly for liability protection, is actually pretty expensive to set up and maintain, operating procedures have to be carefully followed to be effective liability protection. Is why not many people bother to set up LLC for RE.
If liability protection is not needed, and what you want is to minimize tax then the best course of action is to ensure that you make losses by accounting for depreciation.
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I believe Some lender still can work with you if the Llc is solely on owner by you. They need to see Llc operating agreement and see how the LLc was setted up.
This is good to know. Can you still refinance using conventional mortgage after transferring to LLC?