Owning a rental in a corporation
I used to do consulting work and bought a rental place under my company as an investment. Now that my consulting work is toast, the only thing the company is doing is holding my house.
I heard that the rule was to have a rental corporation you had to have a minimum of 6 employees?
By law do I now have to sell this sucker back to myself?
Financially should I sell it back to myself?
It's overall a near break even venture. I'm out money month to month, but the amount paid down on the mortgage every year is ever so slightly above that amount.
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