They (via federal laws) will require that you retain the records for 5 yrs.

I don't think they can claim multi family owner occ.. were you can legally disregard federal fair housing laws.. as it sounds like two separate units they just happen to live next door.however they got in is moot they are in and are in the process of destroying this rental..

Putting that much cash in the bank will (rightfully) trigger reporting to the Federal Government.

(Just to add confusion: LLCs can also elect to be taxed as a corporation or an S corporation.)Some states have laws that are different than federal law.

Our government has a system of giving citizens land through a system of applications.

Other factors include statistics from GLVAR, median home price historical highs, lows, jobs report, economy, realtor driving with me to view 4plexs, tax implications both federal and state, financing, comparable closed sales, 1% rule, etc.The YoY is a chart that measures home prices.

The money spent on the rental "could potentially" be deductible or capitalized depending on the improvement.I don't understand how the government knows what you use the money for.

(There are government backed renovation loan programs like 203k but that's unlikely to be feasible in a wholesale or other competitive bidding situation).

The complete agreement between the contractor and the owner and a clear description of any other documents which are part of the agreement.The full names, federal I.D. number (if applicable), addresses (NOT P.O.

FHA is a government subsidized loan, so its not just the bank that is mandating you, its the US government as well.