$500 per day penalty up to $10,000 and up to 2 years in prison for willful evasion per entityNo cap on the amount of entity penaltiesCheck with your CPA, Tax Advisor or attorney on this as it is a freight train of compliance coming!

U will go broke that I can basically assure you or at least 90% chance this will not work and you will lose money.U would be better off making loans with that 3% 4% money at 10 to 12% and make the interest rate delta pick very good borrowers and let them take the risk on the assets..

We aim to balance thoroughness with fairness to ensure compliance.

And consulting with a local attorney to ensure compliance with state-specific real estate laws, plus making sure you have the necessary permits, is a smart move.As you start, also look into state-specific rules regarding contractors and renovations, especially if you plan to flip in different states from where you reside.

It should be evident that so far he led me to ask questions how to be in legal compliance while following his model, rather than jump off the cliff blindfolded, believing that the "deals" are hanging all over the trees down the abyss, waiting for me to pick. 2.

Enforcing the termination of a lease due to non-compliance (unauthorized resident) is not the same as ending a month to month lease. 

That seller will tell you anything to get you to buy that property but I can assure you there are better deals than this.

Consult with a tax advisor or attorney familiar with both partnership law and real estate to ensure compliance and minimize tax liability.Once under a TIC structure, 1031 exchanges for individual members could allow them to reinvest proceeds from the sale of properties into new ones without triggering immediate capital gains taxes.

If can't transfer the rental into LLC and there are compliance costs associated with maintaining it you might consider shutting it down.

For example the license should not only have a cost but also require at least some compliance training targeting some of the most common issues/complaints.