I need to know before I plow money into reforming my LLC and amending my taxes.Can anyone confirm any of this? 

There’s no need to amend previous years’ returns.

Either in trying to influence the process before the law is in place or suits to amend the law.

If you have been paying them, please ask your tax preparer to amend your returns for the last three years.

@Joe VilleneuveI have amended my contracts to have the wording “ this is not an installment sale or land contract it is merely an agreement to excercise the right to buy the stated property and price above “ Something to that effect anyway

They could be a wholesaler, they contracted to buy it, then found someone else to buy it from them at a higher price. especially in PA, the one making the deal with you is avoiding paying a transfer tax, if the agreement is amended before the sale.

If the Seller hasn't done the repairs that they agreed to do (hopefully in writing as part of the inspection objection/resolution), the most common outcome is probably an amend/extend to give them more time to address the work.

If you want to take a deep dive, you can view an overview of the proposal here, and draft text of the proposed amendment here.In case you just want the highlight reel, notable points include:1) Allows up to 5 adults of any relationship to live as part of a household2) Rent-by-the-room scenarios managed by non-residents would still be prohibited in single unit, two unit, and row house zone districts3) The 20% of properties still governed under Chapter 59 (The 'old zoning code') are not covered by this change4) The number of vehicles allowed to be parked on a zone lot is also proposed to be changed.

I then had a qualified buyer with a decent down payment to buy the house seller financed and wrapped the private lender 1st lien.Purchase Price: $46,000Expenses: $2832Private Lender Refinance $38,000 on 15 yr AMEnd Buyer Down Payment/Sale Price: $7500/$67,500Total Income: $11,030Monthly Cash Flow: $208Cash On Cash Return: Inf (I have no money in the deal)- Property 2: LowryLowry was found on the MLS as well.

I did this with my STR - along with asking friends to book it at full rate and then reimbursing them - and got a handful of 5-star reviews + great feedback on what I needed to amend.