@Roy Mitle When the syndicate sold the property, the $32K gain (Box 10) is a Section 1231 gain, typically treated as capital gain.

Should I consider getting a co-signer, and how would banks treat potential rental income?

The 100/150-hour rules you’ve seen are likely referring to material participation, which is necessary for short-term rentals (STRs) to be treated as non-passive income.

I would likely treat this like any other tenant who wants to break a lease.

Its frustrating dealing with difficult people but you MUST treat this like a business.

Moving it from your personal name to your LLC will be treated the same for tax purposes when selling, so I don’t see how moving it to an LLC will change your capital gains.

@Avery Moore From a tax perspective, purchasing properties through your LLC won’t necessarily change your tax liability, as the IRS often treats single-member LLCs as “disregarded entities,” meaning the income and expenses flow through to your personal tax return.

Assuming you as the landlord are responsible for pest control, get the flea issue treated. 3.

I guess the question would be something about how portfolios are treated during financing or maybe I'm not seeing it from the correct perspective.

Be prepared to followup numerous times.Highly likely the owner will treat your letter like junk mail.