Detached garage conversions are typically treated as a new unit for permit purposes because you're changing the occupancy of the building.

The reason I asked about the amount is I see people always searching for the "perfect note" when they had 100 opportunities pass right by and spend thousands to buy 5 loans a year which they could have done little work and still found similar loansWe buy non performing to get them reperforming and we also have some shorter term RTL's (performing) for cash flow purposes.

I wrote the above for informational purposes.

You can choose to report your income and expenses on Schedule C by electing to file as a Qualified Joint Venture instead of filing a partnership return.If you have created an LLC that is not in a community property state, and as husband-wife you are the only members, then you are a partnership and must file a partnership tax return unless you have elected to treat your LLC as a corporation for tax purposes.If you have created an LLC in a community property state, and husband-wife are the only members, then you are a partnership and must file a partnership tax return unless you have elected to treat your LLC as a disregarded entity or corporation for tax purposes.

To me it kind of defeats the purpose of protecting personal assets and standing up the LLC.2. 

Different mediums have different purposes, that's the premise of media Whatever you say lady. 

What's the purpose of trying to get a loan when I have to pay that much out of pocket just to get it? 

Will itemize for brevity purposes:- Mother wants to move to Saint George, Utah and get a home in a 55+ community- Me (son) has cash and wants to buy the home for her.

These are business purpose loans so there isn't any sort of red tape when purchasing multiple properties at once or one after another.

Its only good for tax purposes if its still a wise investments and you do not lose money on it.