Up to this point, I'm getting my information from a plumber who verified no leaks in the current piping, and that adding gutters would probably fix things - but there was no way to know for sure until installing the gutters and seeing what happens after a heavy rain.

The reason I ask is that I read (without verifying) that a rental company’s income is considered passive and therefore not eligible/ideal to be an S Corp.

So not saying that the people you've talked to fall into those categories at all just giving you something to think about from what I've seen, and several larger LL's here have verified with their numbers in various regions of the country.

If you are working with an experienced real estate agent, they will be able to help verify the value as well.

We also verified rental income and rental income in the surrounding area.

You can probably verify by looking at past sales and seeing what lots that went to sale sold for then determine your best course of action.

I've been a local assessor for more than 30 years and have gotten numerous calls from the IRS verifying the land and building assessments for tax filers using this method.

Wayne Brooks Thanks Wayne when you say power to sign for the trust, you mean verify she IS the trustee or has rights TO the trustee to sell the property?

My instincts on my first two tenants based on conversation alone was correct, but I still get an application to verify past residences and work history.

You can verify this on her own site:http://www.reilindsey.com/Look at the bottom of the site in the copyright information.