Because you are not changing the tax return that reports the activity of the property.But... the IRS holds the position that Husband/wife LLCs can only be disregarded in community property states. 

In this market outlook report, we will take a look at the current and future outlook of cap rates and interest rates, the market fundamentals for the multifamily sector as a whole, the falling net deliveries and vacancies of multifamily units in the coming years in the D.C.

They will let you know what you can and can't do without a permit and what you are able to do yourself within the scopes of those permits.My concern is because this is a rental, if you do anything that is not to code and the tenant reports it, you will likely have some much bigger issues to deal with.Given you note this is major rehab, I tend to lean to hire most, if not all, out. 

The applicant was initially upset and claimed no other reports has previously caught flagged this.

But in Smarter Contact, even though it's not required (if you're in the Elite or Enterprise Plans), they're strongly suggesting it and even have a report on "carrier block rate" percentage.

@David Cherkowsky, the lender will take the full rental income reported on the tax return, for that property, subtract it from the total expenses, add back depreciation, property taxes, mortgage interest, home insurance, HOA(if applicable), sometimes repair expenses(must be documented), divide it by the total amount of months the property was in service for that year (THIS NUMBER IS ON YOUR TAX RETURNS, SO MAKE SURE YOUR ACCOUNTANT DOES NOT PUT 12 MONTHS), and subtracts it against your total monthly mortgage payment.

AppFolio is great for property managers, but investors often use Stessa, REI Hub, or Buildium for tracking income, expenses, and tax reporting.

If you are a person who has a full time job, or runs other companies, it is my professional opinion that you will be better served having the GC handle everything and report to you on your schedule.Once you decided to run the operation yourself, you are now employed by the development.

So when you actually assingn a pro rata interest and you were to run a title report your ownership would show up. 

Hey Jason, As myself and other tax professionals have mentioned it's considered "in service" once ready and available for rent-and at that point is when you can start reporting it, you can begin depreciating it etc.