Congress recently passed legislation that treats Hurricane Ian as a qualified disaster for tax purposes.

For underwriting purposes, adding 19,000 back to income for the purpose of determining DTI is very different than $1,000. its literally $19,000. 

I wrote the above for informational purposes.

It 100% does NOT work with an LLC because a single-member LLC is exactly the same as you for tax purposes, and you cannot sell it to yourself.2.

They are known as the Winthrop Factors-The purpose for which the property was initially acquiredThe purpose for which the property was subsequently heldThe extent of improvements made to the propertyThe number and frequency of sales over timeThe extent to which the property has been disposed ofThe nature of the taxpayer’s business, including other activities and assetsThe amount of advertising/promotion, either directly or through a third partyThe listing of the property for sale through a brokerThe purpose of the held property at time of sale; the classification as an investor or dealer is determined on a property-by-property basis.To me intentionally buying a property to renovate it to resell it for profit, twice in the same year, and opened an entity to do it in ....is going to be ordinary income and not capital gains. 

The study needs to done for tax filing purposes?"

If there is no lease on the property, but the local rental market is very strong, the lender may still consider the prospective rental income for offset purposes.

It is zoned for farming purposes only. 

From a tax perspective, the LLC will be a pass-through entity (if a single-member LLC, it remains disregarded for tax purposes), meaning you can still report income on your personal return (Schedule E).

Here’s why selling your primary residence to your LLC and then renting it back isn’t a good idea from a tax perspective:Self-Dealing Doesn’t WorkFor tax purposes, a single-member LLC is considered the same as you, so paying rent to your own LLC is basically just paying yourself.