@Scott GabrielPrivate money may suit you better for this issue.Most PML will not require a guarantee if under 20% ownership, there are always exceptions, of course.If the entity is setup as 25/25/50, most lenders will allow you to amend your operating agreement or by-laws to alter the ownership percentages for the specific loan. 

January 1, 2008.Amended by: Acts 2009, 81st Leg., R.S., Ch. 1268 (H.B. 1109), Sec. 1, eff.

If approved, you'll get a Letter of Map Amendment (LOMA) or Letter of Map Revision based on Fill (LOMR-F).

@Zach Adams - I'd recommending confirmation on who the dog sitter is and get a lease amendment in place.

This has always bothered me because I felt like we should have been able to use the acquisition price of $445k since it was our intent to eventually rent it out.Is it reasonable to find a CPA who might be able to make the adjustment and file amended returns for the previous years?

It depends on your knowledge of tax law and how important maximized tax benefits are to you vs. being compliant.I amend a lot of self prepared returns because turbo tax didn't ask the right questions, or the person mis understood what it asked. 

Here is the regulation.Amend KRS 324.010 to redefine "real estate brokerage" to include advertising for sale an equitable interest in a contract for the purchase of real property between a property owner and a prospective buyer; amend KRS 324.020 to limit this type of advertising to licensed real estate brokers.Seems pretty specific to wholesaling if you ask me .

So depending on what you wrote off...you may need to amend your prior year. 

It's a good idea to still have an attorney review them, especially if you use the amendment/addendum forms.

So which is a bigger red flag: filing 2022 with a big discrepancy between the two years' expenses or amending a prior years' taxes?