. 💪  Did you develop that muscle from stretching...while patting yourself on the back? 

However doing this on any property that you have previously filed taxes on using the straight-line 27.5 year depreciation method, would require you to make adjustments, including filing a form 3115 which all may be much more complicated than Anthony made it sound to be.Is declaring yourself a real estate professional something that can be done like this after the fact?

I know some folks say you can deed it to a LLC after closing and not tell the lender, but that would give the lender the right to declare default, if and when they choose, and that's too big of a risk for me personally.

The court order declaring her to be the owner can be recorded to fix your chain of title problem.  

They will send you a declarations page you can send back to the lender.

@Ashish Acharya its 80K, how would we declare the difference between lifetime and just an annual gift?

Hi Everyone,What’s your take on the current “State of Emergency” declaration and the implications on your rental units?

This allows them to be single member entities, which allows me to declare them as “disregarded entities” with the IRS.

My only concern with putting it in her name is when/if my father in law declares bankruptcy.

I’m declaring here and now that I’ll be going into real estate investing as soon as possible, (not full time, will be continuing college education and career in finance).