The case is in court right now with the lender filing a case to foreclose and the borrower filing a counterclaim against the lender:Here is what I have found reviewing this case:1.

3) Is there an official IRS form where these hours are documented, or would an excel file suffice ?

A knowledgeable CPA can easily do this for you when filing your taxes. 

Tenant 2 stays. 5 months goes by to come to find out that now tenant 2 moved out without our knowledge and let squatters move in.. had to file for eviction, got them out finally.

You could try filing a case/judgement against them but I’m guessing they ar leaving the area to screw over the next MTR landlord.

However, this means you’ll need to comply with the annual filing, franchise tax, and reporting requirements in both states.

==========================My relative is asking if this is a viable way to legally avoid having to pay taxes:STEP 1: SELL PRIMARY RESIDENCE (House A)-Sell primary residence to son-in-law for cost basis + $500K-File gift tax form for difference between sale price & market value-Not pay capital gains on $500K due to personal exemption.STEP 2: SELL RENTAL PROPERTIES-Do 1031 exchange and buy House A back from son-in-law-Rent out House A for 1 year before move back in==========================Thoughts?

Same goes for number of LLCs and what to fund them with, since bear in mind that CA tends to be more cumbersome and expensive to have LLCs than other states.California is generally more cumbersome than other states when it comes to taxes and filings.

You prpobably don't care about Ohio, but their requirements might be instructive.You can only file January 1 through March 31.

Quote from @Pamela Rivas: Hi Natasha,Here are some key points to consider about setting up a Mexican corporation:Setup Costs: $1,500–$3,000 USDOngoing Costs: $1,000–$2,000 USD/year (accounting and tax filings)Benefits: Tax deductions for expenses like maintenance, repairs, and managementBest for: Multiple properties or income-generating investmentsWhile a corporation is ideal for managing multiple properties, it’s NOT required to obtain an RFC.