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MODULE 05 · 17 min
Legal Structure, LLC & Compliance
Separate you from the business before the first rental.
In this lesson
- LLC formation and operating agreement basics
- EIN, business banking, and bookkeeping setup
- State rental licensing and tax registration
- Recordkeeping that survives an audit
Operator takeaways
- Never commingle personal and business funds
- Rental tax rules vary by state — verify locally
- Keep signed agreements for a minimum of 4 years
Module Quiz
Best score: 0% · 100% required to complete1. Commingling funds primarily risks:
2. Rental licensing requirements are: