After that you grab a taxpayer identification number from the IRS and set up a bank account. 

(a) Broker Identification.

- below is not advice just what I've read up on and have acquired so far:You'll need to register your entity to get a EIN# (employer identification number).Open a checking account to pay from and transact from to create separation between personal and business expensesGo get a Dun's # - Dun and Bradstreet - register your business - to get credit profile startedEstablish trade lines (homedepot, chevron gas cards, and etc) which are the easiest to get at first then work up to revolving, installment, mortgage/real estate etcBusiness credit is not scored based on your utilization rate of your credit accounts but rather only how quickly you pay the creditors so make sure you pay all your accounts before 30 days the scoring model uses a "paydex," score as opposed to a FICO scoreThe quicker you pay your creditors before the due date, the better your paydex scoreOnce your paydex score gets above 70 you'll  be in average bracket and good from when you reach 80-90, and 90-100 is excellent with 100 as best.Once you reach a high score you'll have a lot better chance to get lines of credit, working capital, or other loans.I hope that helps -

Don't hesitate to reach out, the 45 Identification Form can be complicated depending on your situation. 

Some of our clients have opted to pay capital gains tax on a portion of the proceeds and use that money for the renovation.If you only identify the replacement property during the 45-day identification period and you cannot close on any of the identified properties, you lose the tax exemption.

@Steve BuchananThat's right after 10 years of not living in the property you lose the personal exemption UNLESS you move back in for the next 2 years then sell.Or if you don't move in you can do a 1031 exchange.The 1031 is more difficult, has more rules, 45 day identification, settle in 180 days, etc. etc.For the personal residence exemption you have to live there 2 years, and don't have to buy a replacement property, and don't have to be a certain age, and you can do it multiple times. 

That story is a win (only a few pieces of vinly and old blinds.)I would send a bill, realizing I would not be getting the money ( I assume your initial offer was based on no damage, and said so).My surprise on MY second SFR was as follows:1.

Seems a little like starting the 45 day identification period on a 1031 without a target property, though.

In Chicago we have to provide a lease, identification of owner and agents, code violations disclosure, bedbug brochure, lead paint disclosure, radon disclosure, and a summary of the chicago residential landlord tenant ordinance.

So in order to defer all tax you need to purchase at least $370K in investment real estate and use all $200K in cash to do so.You can purchase less and you can take cash out but you will the IRS views that as taking profit so you pay tax on the difference without jeopardizing the rest of your exchange.Unfortunately your other source is maybe sort of referring to the identification process for potential replacements in a 1031 exchange.