I am mainly a builder so I focus on additions or new constructions more than rehabs, but with that being said, I don't disregard rehabs. 

(Single member LLC's are disregarded int he USA for tax so give you the most flexibility whilst still providing asset protection.) 

The board of health gave me this clause that has no correlation to such request.... they pulled something up and said that this is how we interpret it and disregard how you interpret it... we will go by how we interpret it... so leave your basement door unlock. 

The only thing that matters is what it is worth now and what your market is doing now. 2004 was a phenom year for RE appreciation and should be disregarded in analysis as it will likely not repeat anytime within the next two decades.

This is just a test please disregard

Your tax status is a different story...It sounds as though all of your LLC's are single member and will be disregarded for tax purposes, so the income and expenses will flow to your personal return and you may not realize a tax benefit from the arrangement between your own LLC's.

In talking to our CPA, our understanding is that a married couple is considered one entity, so we could set up the business as “multiple members” and “disregarded” which would give us the least headaches as far as tax returns and income reporting (we currently file our personal returns jointly).I have few questions that I would really appreciate everyone’s help with:First - would you recommend setting up the LLC before or after buying the property?

If you are talking about 1-4 units, disregard this paragraph, it wouldn't apply.

In some states they are disregarded entities (they don't exist) when seeking legal protection.

Flipping houses is considered a trade or business activity.The tax is a trust tax paid by the IRA can can get to be as high as 39.6%.That said, flipping houses in an IRA can still potentially generate higher net after-tax returns than many other investments, so a good opportunity should not be disregarded just because taxes come into the picture.