I just wanted to resurect this thread becuase Im zeroing in on what this will actually cost me and what type of income it would generate.Roughly it would generate $11,300/mo (4 3bed, 6 2bed, 6 1bed & Im operating on the conservative side for the rent amount).Expenses would roughly be debt service of about $6,600, $900 for property insurance, Its exempt from property insurance for 5 years (renisance zone), $700 in maintenance, and I would do all the property management.We are talking the place from the gutting phase all the way to turn key for a million bucks.

not really, the rules related to Private Placements are actually "EXEMPTIONS" from those rules.

When I see one where the mailing address is not different from the tax billing address and homestead exemption is taken that is likely where they live.There are other ways as well but this is what I do first and find the people 99 percent of the time.

Asset protection and voiding of estate taxes even though the estate exemption is enough for the average joe.

You and they will likely give a personal guarantee for any loan, so the difference will be in commercial lending guidlines.Since you are immediate family members, you'll be exempt from SEC fund raising issues as well as the SAFE Act if say your father makes you a loan personally if your home is included in all this.Yes, your LLC needs to be formed prior to purchase and applying for the loan, I suggest you spend a few bucks and see an attorney in setting this up, there are options and aspects of such an entity that simply are not contained in some internet LLC formoperating agreement.

The daughter says they want to sell the house and would consider financing the sale (the home is free and clear).My question is when structuring an owner finance sale on a home in probate would we need to have an MLO involved to satisfy the SAFE Act or is this an exempt situation because it is the decedents immediate family?

There is nothing in the exemptions for real estate investors.

Well, I did not use an accountant and I didn't keep up with the cash expenses well because I thought it would be my personal residence so I would be exempt from the cap gains anyway.I didn't repay it the first year as it was still technically my primary residence (I was living out of town in a hotel, so this house was more of a permanent residence for me than anywhere else, even if I wasn't fully moved in).

Should an HOA be allowed to give credit to owners that are able to participate in a clean up day exempting them from a special assessment while assessing the rest of the owners that do not or, more important, cannot participate (whether they have to work on that day or are disabled)?

Besides that, loading up on salries beyond what is usual and customary for other similar operations can cause you to lose your tax exempt status.When you walk out the door you need to be committed to the mission, that's what you must project to others, not a way to make a ton of money, if that word gets out, you're dead in the public eye as well as everyother N/P in the community.