Plus the town is rent deficient.

Since all you have is a contract right and you sell that (via a simultaneous COE on the same day) and you have held that contract right for longer than a year, it should still be treated as a capital gain to the LLC.The capital gain recognized by the LLC will flow through to members of the LLC via a K-1 form, which will get reported on your individual tax return in the same character.Caveat....please check with all the details of this transaction and make sure you can show you had and investment intent from the beginning to support your case and that you indeed have a binding contract that is assignable (most are if you have a good attorney).As for keeping the cash in the LLC, it doesn't matter.

I was estimating that FMV might be 325 - 350 K.

Ok,SO I have a freind that calls me and wants me to fly to Detroit to Invest..Here's the deal he has 20-30 properties that we can buy for 15K fix for another 30 KWe will be Rehabbed at 45KThese rent for $900The ARV is 90K for this market but resells are bland right now..Our take is to get 60% LTV BANK loan of 54K at 20 year AmWe will cash flow at about 150 a door per month on the 20 Year noteSo 30 of these we will get9K in pocket * 30 =270K36 K Networth Increase * 30 = $1180000 Millionaires150* 30 = 4500 a month cashflow!

Here is the post I sent to flipper.... eth•ic ( th k) n. 1. a.

If you have money in a 401(k) at a previous employeer, you can roll that into a 401(k).

Can they garnish your wage if there is a deficiency judgment?

I made a few hundred k a year in my 20's.

I guess what I'm trying to figure out is how people make $30-40+k on assignment fees instead of the usual $5-10k

No equity whatsoever.And isn't Congress or someone trying to pass a law that the IRS cannot come after you for the deficiency's?