(Assuming he paid $100k, is selling for $1M but tells the IRS $100k to avoid taxes and help you out.)And I said…“Lastly, don’t forget you’re also going to owe $250k in taxes if you sell the home for exactly the $1million you really paid to buy it.

If the house has increased a lot in value, you may want to sell to avoid paying capital gains on the profit.

Low rate of return on equity is fine, especially since we're avoiding capital gains, depreciation recapture, and have no effectively taxable income on the current cashflow.

Even if the tenants are allergic, they can avoid that area for a short period of time, just like they would do in any outdoor space.

I really need another side hustle.We, the experienced ones, spend our time helping people avoid the same potholes we did.

MTR is treated like an LTR from what I understand and I already own a couple LTR's so would rather do more of those than an MTR and avoid the extra hassle of furnishing, etc.  

If you are comfortable renting it, then I would avoid the extension and start the refinance process before your maturity date.

Doubt the LLC owner has performed all the necessary tasks to avoid the "piercing of the corporate veil" by an attorney that knows what they are doing.DM us if you'd like to discuss more and get an intro to such an attorney...

We would like to avoid putting our primary residence on the line for this.

To avoid any confusion, this is not the same thing as ( “home sharing”, or an “owner-occupied rental.”)Improvements generally need to be depreciated over 15 years, note I said generally, depending on the nature of the improvement and how long the IRS standard depreciation period is for the cost and size of expenses.Strategies depend on a number of things including, but not limited to: type of property, your material participation, how long you plan to hold it, your goals.