In Philadelphia, the distinction is between a single/multi family home versus a rooming house.

The first is the distinct possibility of being an out-of-state landlord (even with the frustrations of getting a good property manager).

An LLC or Corp is a whole new person in the eyes of the law, but the distinction is that it is not present PHYSICALLY.

@Jason DiClemente Is the distinction if you're transferring a home without consideration, but there is a mortgage balance, then transfer tax is due on the outstanding mortgage balance?  

And the rest of the % of the property can be taken by you or anyone.As far as the TIC part it's important to think of the replacement property as two distinct properties that just happen to be a smaller piece of one larger property. 

This standard only requires them to recommend suitable investments for their clients, potentially neglecting their financial well-being.In conclusion, it is essential to understand these distinctions to ensure trustworthy financial advice.

@John Casmon thanks for adding this distinction.

While a more distinct connection between the IRA and its own EIN may be preferable, it is not always possible, or may not exist in time for required reporting.  

The organization I'm with does direct marketing - there's a distinct difference - and is modeled after the insurance industry.The amortization formula (thanx for the refresher) and others may be discussed in more than one of the 60+ classes / 500+ hours of education we have available.

I think there needs to be a distinction because I don't think this is Political.