,Renting your primary home back to yourself isn’t typically allowed by the IRS for tax purposes, even if structured through an LLC.

The reason I asked about the amount is I see people always searching for the "perfect note" when they had 100 opportunities pass right by and spend thousands to buy 5 loans a year which they could have done little work and still found similar loansWe buy non performing to get them reperforming and we also have some shorter term RTL's (performing) for cash flow purposes.

I’ve come across details regarding the Prohibition on the Purchase of Residential Property by Non-Canadians Act, and it seems there are exceptions for buyers with a valid work permit or for properties outside Census Metropolitan Areas (CMA) or Census Agglomerations (CA).Do you know if certain types of work permits are more favorable for this purpose?

Hello Michael,I echo Jon, completing a 1031 of a single rental into DSTs in straightforward however we typically recommend a portfolio of DSTs for diversification and financial objective purposes.

You’ve received some great responses full of valuable information, but I believe you may be missing the BEST market.  

Quote from @Bob Judge: @Ronald Rohde  Thank you for the response.

Lau, generally if you are financing with a commercial lender- we lend for business purpose only and a rental property would fall under that category.

You can choose to report your income and expenses on Schedule C by electing to file as a Qualified Joint Venture instead of filing a partnership return.If you have created an LLC that is not in a community property state, and as husband-wife you are the only members, then you are a partnership and must file a partnership tax return unless you have elected to treat your LLC as a corporation for tax purposes.If you have created an LLC in a community property state, and husband-wife are the only members, then you are a partnership and must file a partnership tax return unless you have elected to treat your LLC as a disregarded entity or corporation for tax purposes.

I often think we forgot we the voters are responsible for all of this. 

I understand it was (allegedly) caused by a kid, but parents must take responsibility for their children's actions.