Buy a lot of good blueberry deals, so if someone has a cherry deal and can't/won't take it down, they will give it to you because of all the good blueberries you buy2.

You may have a 5472 filing exposure for 2019, but again specific advice should be directed to a CPA that you've engaged.Yes, the penalties for failure to file a 5472 or an inaccurate filing are steep.Once the LLC gets up and running you'll want your CPA to give you the rundown on an 871(d) election and why it may benefit you.Best of luck.

They probably poop out blueberries!

They look like blueberries running around :)Passive income rocks.

My delectable is $1,000 we have a HELOC for $30,000 on the house, 25K is took out. 

It's good for the old balance sheet.Here's an example of one:2608 Blueberry Drive Augusta, GA 30906Acquisition ~$15,300 (got it super cheap as an REO because it was infested with fleas and difficult to show)Repairs ~ $20kish including roof, HVAC, water heater, refinish hardwoods, drywall/paint, new kitchen, and some misc.Rented Section 8 for $700/month (about to increase to 745 :)

The neighbors are blueberry farms.

Part of the land rents to a blueberry farmer for 135 a month.    

Breakfast is usually a bowl of oatmeal with almond milk and a handful of blueberries.  

My CPA said to opt for the 871(d) election on the 1040NR for various tax benefits.