However, in 2014, he added a patio cover to the 2nd floor and unfortunately someone reported him and the city slapped him with code violations for the patio cover.

Back patio is screened in but has holes and is need of repairs.

- Yes, can you deduct any necessary and ordinary expenses to run your business? 

@David RosenhausI have bought a similar note and it listed each property on it and it had a commercial mortgage that listed all the properties on it.Without seeing it, it’s difficult to provide advice but it’s not out of ordinary.

Because of passive loss rules, you won't be able to offset ordinary income with losses from passive investments.As your sister plans to live there long term (maybe forever?)

The income will most likely be taxed as ordinary income at your marginal tax rate, plus you're likely to be on the hook for self-employment tax for some/all of the income as well, depending on how you've structured the LLC.Long story short, flipping is *not* a good way to shelter taxes.

When you recapture the depreciation when you sell a property, is the recapture tax rate based on your ordinary tax rate at that given time?

A pig is not listed as an ordinary household pet and I doubt they can justify needing that specific type of animal.www.hud.gov%2Fsites%2Fdfiles%2...

If I sell it now, I'm paying ST capital gains rates which is at my ordinary income rate of 22% (approx. 20K).

I've seen him in his car smoking, found a pack a cigars on a patio chair, and a lighter.