To file Form 1041, you would need to obtain an Employer Identification Number (EIN) for the estate.IRS Reference:•Final Form 1040: Report income up to the date of death (per IRS Publication 559).

This deal was sourced through our extensive network, allowing us to secure it at an attractive price.

The commercial returns available on loopnet or auction sites for public viewing generally seemed no better than I could’ve gotten buying overpriced residential property.  

How do I secure liability against my other assets.

Do I have to return his security deposit?

I'm new to RE too, but done my due diligence in reading on extend on the subject matter, and if I was the OP (still have not done my first deal), I would secure the deal, if its really such a great deal with 50k spread, in my mind I think he could get 15k wholesale deal to another investor and he does not have to do anything more than sell the contract, then after you have done a few of this and cash in your pocket, I would start with rehabs and rentals etc

@Ted Akers  how do you secure the deals that you fund that take 30 to 90 days to pay off.do you then do a traditional HML  ?

If you need to secure a property quickly, or if you are doing renovations that can be completed within a year then you are better off using hard money or private lending options as they've got quicker close times and tend to be more investor friendly.

., LLC–the second series in my series LLC–I am able to (1) actually obtain an EIN for this individual series of the company and (2) notify the IRS that this company is a series of a Texas LLC.Neither the IRS, nor the public, will find a Certificate of Formation in Texas for 123 MAIN STREET, LLC.

This will continue to drop over time and should be secured correctly."