Hi Tami,You said you worked at a powersports dealer.....it wasn't by any chance Nelson's speed shop?

That is not a flip technically and it moved them from high rate dealer income tax status to capital gains.Go here to learn more about the hardest working property managers in Las Vegas

@William R.Into drugs and lots of visitors?

Now- in some states in order to do this you must be licensed by the state, but in most cases that is as a mobile home dealer / broker etc...

What if the business is illegal and is just cash, like drugs, prostitution or gambling?

We are coin dealers, so we hear it all, from the hype to the doom & gloom.

Here's what I wrote here last June:Originally posted by @David Krulac:@Bryan WellerI don't like LLC, INC names that mimic the owner's name, like:Bryan Weller LLCWeller Real Estate LLCI think that the company name should be completely different from your own name, even Bryan and Bob LLC is something I don't like.From the IRS prospective there is always the question of dealer or investor, which often equates to being Federally taxed at long term Capital Gains rates or ordinary income at double the taxes. so your name should not state or imply that you are a dealer like:Day Trading Real Estate LLCBryan's Buying & Selling Real Estate LLCBryan's Flipping Homes LLC.Another thing that happens is that the nature of your business might change and now the specific name you pick does not apply likeRehabbing Chicago LLCThen you stop rehabbing or stop working in Chicago, once you move to Milwaukee or even Skokie and only do rentals the name Rehabbing Chicago doesn't make sense any more and will confuse people.I'm not as bothered by this one but have seen people that have names that don't quite fit or don't fit yet like:Worldwide Real Estate LLCGlobal Real Estate LLCTranscontinental Real Estate LLCActually met a couple of people with names like those who didn't own any real estate.

. $4 sounds hi for splash tile, I get porcelain for $2 from some local dealers.

you can find at any tile or flooring dealer.

People are always going to worry about who is living next door to them and unfortunately for them they have no control over the matter, all you can do is reassure them that you're not going to rent to crack dealers, hookers, and child molestors.