Additional tax, penalties, interest for the taxpayer and disciplinary action on the preparer. 

It is not as clean, but still allows you to defer tax payments on gains (and recapture).

Not mine :)And a SFH has one mortgage, one water bill and one tax payment.

This tax is meant to protect tax-paying businesses from unfair competition from tax-exempt entities.The use of debt-financing creates exposure to taxation known as UDFI on the percentage of the income the IRA receives from the non-IRA (borrowed) capital.

This also maintains the small spread in monthly payments with no tax payment as title stays with sellers name. 

I reference the CPA since there are tax implications of an LLC (although pass through to the individual taxes) verses you as an individual tax payer.

@Kimi Ho similar to 1031 exchange name change where everything tied with buyer/seller SSN/EIN and you cant mix funds for 2 separate EINs/SSNs , properties needs to have separate account as tax paying entity to county office (i.e. 2 separate tax bills aka 2 addresses).  

PROP 10 WILL STICK TAXPAYERS WITH LEGAL BILLS.

Kayana you can find out the owners address online usually through tax payments.  

The IRS has 30 days to credit the taxpayer account after they’ve received form 3115.