If the property was involved in a bk it was put into an estate for the entity who filed.

We've found it has superior reporting features, integration features, and is overall more efficient to work within than other REI-specific software.The downside is QBO is not set up for REI so you'll need to do that or work with an expert to ensure it is set up for your business appropriately.Something else to keep in mind is your entity structure and how your entities file tax returns.

A property qualifies as Homestead for this exemption if an eligible owner files a Principal Residence Exemption (PRE): https://www.michigan.gov/taxes/0,4676,7-238-43535_43539-210891--,00.html#:~:text=Section%20211.7cc%20and%20211.7,purposes%20up%20to%2018%20mills.Many investors have gotten an ugly surprise when they bought a property that was a primary residence of the seller for the last 20 years.

Taking pics of each wall, can be too many pics and a very large file/pdf to share with the tenant. 

And, they generally bring forth action when a neighbor files a complaint and the fines/remedies can be painful. 

I wouldn't worry too much about it, if you have a competent CPA or bookkeeper they should be able to review your books and within minutes have a strong grasp on who gets a 1099 (spoiler alert, not every contractor gets one, I'll be annoyed if I get one since I'm structured as an S corporation) and the amounts to report.1099 filings are usually a loss leader for us, so if you're working with a professional make sure you take advantage of them filing everything for you.

Under the Corporate Transparency Act, LLC's are required to file a Beneficial Ownership Information (BOI) Report. 

But this year, his team is saying I need to file 1099s. 

I understand this is my responsibility and I filed an insurance claim and the garage is currently being rebuilt as the entire thing was destroyed.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.