@Melanie P.There are companies out there like buttonwood, factright and mick law who do due diligence reports already.

Yes, there's a living room, dining room, kitchen on the appraiser's report and then they called the what I thought to be a 3rd bedroom to be a "den".

I went and took the measurements and they are off by 1 ft to 2 ft and location of various rooms in the appraisal report is all wrong. 

Final update.Project completed.Rented and Refi, this project as I mentioned is the first out of town investment we've purchased, I have uploaded final pictures I hope you like it.the deal when well, I had to leave more money in the deal that I wanted but over all a great experience, because we started with the BRRRR we fined contractors right away and we felt confidante and that give us the push we needed to purchase more, so now we are proud the report that we have 3 properties (4 doors, 1 duplex 2 houses) that all are rented and cash flowing well, and also one more under contract!!!!

The loss reported on your K1 is likely considered a passive loss unless you materially participate in the syndication.

Make sure that the corresponding lender or broker you are working with has a loan servicing company that is non-reporting.

As a single-member LLC, the IRS considers it a disregarded entity, meaning the income, expenses, and other tax-related items will still be reported on your personal tax return via Schedule E.

As a mortgage broker specializing in non-QM loans, I’ve worked extensively with foreign nationals like yourself who are looking to invest in U.S. real estate.

After that you will be able to report that LLC now as a SMLLC on your personal tax return and pick up any income and expenses after the final date of the partnership tax return.

And what is most alarming, is he didn't have a title report run for the gator lender.