They must sign the form.The IRS offers an online tool that lets you check if the tax ID the contractor gave you matches the IRS records.

Quote from @Jacob Molina: Okay, so with that 3-2-1 would the final year of that or end of that the rate be fixed or could it go up any higher?  

Fix-and-flips and new builds are always exciting!

As a general contractor, i feel best suited for fix and flip or BRRR method investing.

I am considering buying the property in cash then hiring Servpro to fix the cigarette damage.

When that happens, you can adjust the rent to match current market rates.

Quote from @Christian Solis: What business entity should I should I structure my fix and flip business and what are some tips I should should keep in mind so me and my partner are protected ?  

The fix/flip might be a good way to get such a relationship started: usually has lower cash out of pocket requirements and you can sell the property faster to recoup the capital invested, plus any profits.

I have been analyzing fix and flip opportunities in NYC and CT as my next venture. 

Quote from @Christian Solis: When looking for private money how do you guys properly present a fix and flip and how do you structure that deal so they are happy with there return on investment ?