It notifies the IRS of expected taxes on this income.Sending Forms 1099-INT as an Investor: Investors should send Form 1099-INT to private lenders if they meet two criteria:They operate as a “trade or business,” applicable to flippers and landlords.The annual interest paid on the private loan was $600 or more for the prior year.Private Lender Reporting: Private lenders must report the interest collected on private loans as taxable income, even without receiving a 1099-INT.

Also, in general, any reason to subdivide prior to building other than the LLC piece?

Valuations prior to establishing residency is tax at different rate.

The unit was vacant for a month or so prior to their move-in and had been professionally cleaned.

My MTR is in Mission Beach and is an MTR due to not getting an STR permit in spite of it having been an STR for 24 years prior to the STR quota.  

It says the property:Assignment AgreementProperty Address: XXXXX, CA xxxxxEffective Date: 04/11/2024Escrow agent is hereby instructed and directed by PINPOINT OFFERS USA (“Assignor”) that theAssignee(s) in the above referenced escrow is/are PATRIK INDERBITZEN AND XIN FANG 2024TRUST (“Assignee”), and you are hereby instructed to treat said Assignee(s) in all respects as though theywere the original purchaser(s) to said escrow

I've read previous posts about this topic but some of them were dated prior to the 12-month loan seasoning requirement that was updated in April 2023, so wanted to confirm I'm understanding it correctly.

@Luis GonzalezSeller had every right to cancel and does not have to honor any prior agreements.We have done this in the past when we thought the buyer continued to ask for too much and decided against moving forward.

I understand this concept once the option is executed,  but not sure how this would apply prior. 

That means that the prior leaks and soil/groundwater contamination have already been taken care of.