Called out on it by IRS and NY State Dept of Taxation, provided my documentation and cited the code to both entities, which resulted in avoiding tax court and a reversal of tax liabilities.  

This is why many people buy real estate within an entity (LLC) and only buy 1 property per LLC or a few based on their value/equity. 

We use the Business field for entities and the Class field for properties.

Fortunately we had the financial position to be able to "leave them at the alter" and go a different direction, however most consumers may not be as fortunate or prepared.Tara, One million percent agree with Pat here, make sure that you and the lender are on the same page on, not only which score they take, but also what percentage of the entity they require to take the 'higher' of the scores.For instance, some groups would take the score of the highest percentage owner, but would still check at >20% ownership.

. - Daly Construction Company LLC- Acitelli Entities

In fact most plaintiffs attorney don’t even care to research who the individual behind the entity is because it’s rarely relevant to their objectives.

I used another CPA before him, but Edwin helped advise me on the best entity structures for both my real estate and business to minimize my taxes, which my previous CPA did not do.

If you're a single member LLC I'm not sure it makes much difference as it will likely flow through your own tax return anyway as a disregarded entity.

o Commercial loan, sort of - they are 30-year fixed DSCR loans with private national lenders.o We close in an entity/LLC 99% of the time - very rarely do we receive a request to close in someone's personal name.

We've found it has superior reporting features, integration features, and is overall more efficient to work within than other REI-specific software.The downside is QBO is not set up for REI so you'll need to do that or work with an expert to ensure it is set up for your business appropriately.Something else to keep in mind is your entity structure and how your entities file tax returns.