If I think an appraiser will use them, then I do not disregard them.

Disregarding a situiation where one could be a fool and purchase a second note, thinking they bought a first position deal, there is no way that the investor could lose 100% (or as they put it - "everything!")

A single member LLC is default a disregarded entity, but may elect to be taxed as a C or S Corp.

That is because the IRS considers and LLC a disregarded entity.

This tax payer did this year after year with complete disregard for the rules.

Thank you for all the info.I'm also new to Real Estate investing and I'm about to buy my first rental property.I have not formed an LLC yet, but I'm thinking about forming one prior to purchasing my first income producing rental property.My goal is to generate revenue only from rental properties, and to be the only owner of the properties - Single member LLC.So in this case should I open an LLC and just be considered a "disregarded entity" by the IRS?

If so, then you have a disregarded entity and the income will be reported on your personal return.

My accountant mentioned something about a disregarded entity.With some much information and so many opinions available, who's advice is correct?

Please disregard any offensive statements.

Our companies are all set up as LLC's and taxed as an S corp or a disregarded entity.