You will then treat things like replacing broken doorknobs, AC handlers, or redoing the floor(upgrading is a capital improvement) as expenses.

A three unit is treated as residential (not commercial) property so the value of the property will be based on an appraisal.

If you do not pay yourself a reasonable salary for a repeated and ongoing active investments the IRS and State Revenue Agency may come after you.LLC’s are by default treated by the IRS as pass-through partnerships (or disregarded entities if a single member/owner), which means profits and losses flow right to the owners and are added on to their income to be taxed and are not taxed first at the company level (i.e. no double taxation).

You can always set up another entity and treat those properties as “investments” (not inventory) if you would like to exchange to defer taxation.

I believe he will treat you right based on his integrity.

Other contractors in your town for their experiences with how your permits people treat this.

Professional technicians also utilize units designed to treat those hard to reach areas, such as crevices or the insides of walls.Softer items in the home such as upholstery, clothing, bedding, or other textiles may be more resistant to odor removal techniques.

Treat them right, give them a decent well maintained home and you can have a very long term tenant with rent increases as market rents go up.

J Scott,Technically that would be treated as income to BP and an charitable deduction from BP as well.

You would pay Medicare on 100% of that as well.My suggestion is that you are a realtor you treat the LLC as an S-corp OR have an S-corp own your share of the partnership.My suggestion is that if you are a broker, you could have your brokerage entity own the LLC interest.There are several strategies that you can employ.