was there an agreement between you and your parents that they should share in the profits / losses of the airbnb / property.If there was an agreement, they should also be included in the LLC.It is best to discuss this all with an attorney.Best of luck!

That property sold for $820K in that horrible condition.I'll update my post to include an example of format, thanks for the suggestions.

Alternatively, your sibling might use a 1031 exchange to defer taxes by reinvesting in like-kind properties, though this doesn't directly fund a primary residence.Other ideas include leveraging a HELOC on the rental properties for the down payment, taking out a 401(k) loan, structuring an owner-financed agreement, or a lease-to-own arrangement.

@Ritu MahajanBuild a solid local team, including contractors, property managers, and lenders experienced with BRRRR.

I'm a broker in 18 states, and none that I can think of require Disclosure of repaired issues, including NC.

Still, considering how difficult it is to find a good real estate focused accountant, limiting your search to local providers usually gives you too few options.Expand your search to include remote CPAs.

However, my take on this is they did not do sufficient due diligence on many fronts, including city government challenges, operating challenges, infrastructure challenges and marketing challenges. 

I'm wondering how much specifics I need to include for each line item. 

I am going to talk to my PM about it to see if and how it was done, so if you would like to be included in the conversation or I can let you know, would love to have you there to see how it is done

It will include a compact bathroom, a tiny kitchen area, and a heater—just the essentials to make it comfortable for someone to stay in.