Final update.Project completed.Rented and Refi, this project as I mentioned is the first out of town investment we've purchased, I have uploaded final pictures I hope you like it.the deal when well, I had to leave more money in the deal that I wanted but over all a great experience, because we started with the BRRRR we fined contractors right away and we felt confidante and that give us the push we needed to purchase more, so now we are proud the report that we have 3 properties (4 doors, 1 duplex 2 houses) that all are rented and cash flowing well, and also one more under contract!!!!

I want to make sure I'm not overlooking any potential risks or unusual requests in this counter offer.Thank you in advance for your help!

As a single-member LLC, the IRS considers it a disregarded entity, meaning the income, expenses, and other tax-related items will still be reported on your personal tax return via Schedule E.

Thank you in advance for your time and insights!

Make sure that the corresponding lender or broker you are working with has a loan servicing company that is non-reporting.

This might be a stupid question but thanks in advance!

After that you will be able to report that LLC now as a SMLLC on your personal tax return and pick up any income and expenses after the final date of the partnership tax return.

Do you rely on references from previous lenders, or do you request more detailed project reports?

Thanks in advance. 

Depreciation is typically allocated according to the ownership percentages outlined in the partnership or syndication agreement, which are set in advance and follow certain rules under the tax code.However, some syndication structures can be designed with different classes of partners or special allocations, but these arrangements are subject to complex tax rules, such as the "substantial economic effect" rule under Section 704(b) of the Internal Revenue Code.