I'm reaching out to Baselane's leadership to put some sense in them about good banking practices and honoring legally bound leases, that they ended by breaking through this action.

Syndication Reporting IssuesMissing Form 8918 for reportable transactionsInconsistent investor disclosuresRequired registrations skippedWhat Doesn't Actually Matter:(Despite What Your Uncle's CPA Says)Special AllocationsNormal promote structuresStandard waterfall provisionsTypical developer promotesReality: Unless extremely aggressive, IRS rarely caresTechnical DocumentationMinor §704(b) gapsCapital account glitchesTechnical allocation languageTruth: Unless hiding something biggerProperty Value AllocationsNormal basis step-upsTypical appreciation splitsStandard promote calculationsReal World Example:🏢 100-unit apartment complex4 partners, $5M dealDeveloper promote structure= Zero IRS interestSame Deal With Red Flags:🏢 100-unit apartment complexHidden partner arrangementsArtificial loss allocationsUnreported debt shifts= IRS AttentionPractical Protection Steps:Basic Documentation✅ Clean operating agreement✅ Economic substance✅ Partner contributions tracked(Don't need War & Peace complexity)Economic Reality✅ Allocations match economics✅ Real money movement✅ Actual partner participationClean Reporting✅ Consistent K-1s✅ Required forms filed✅ Clear communicationThe "Sleep Well" Test:Can you explain your structure to an IRS agent without sweating?

1st tenant (that came with the house)- she is a Section 8 tenant and clearly knows the game better than me hence the prolonged delayed Marshall’s execution.I cannot have 2 Government assistance programs in the property at the same time since it is not a legal 2 family.

I have just under five rental properties and I understand the legal benefits of creating an LLC (married to a lawyer).

**Letter of Intent (LOI)**: Though not legally binding, an LOI can outline the basic terms and conditions of a potential deal before the final contracts are drawn up, ensuring that all parties are on the same page.It's always wise to consult with a real estate attorney to ensure that your contracts comply with local laws and protect your interests.

It's a place to legally go and sell stock/business without capital gains.

If you need an option that isn't as document heavy, a DSCR cash-out might be a viable option if it's an investment property.

Is there anything specific I should focus on during the due diligence process, particularly regarding title and document inspection, compared to a traditional sale?

Nothing in this post should be construed as, or relied upon, as legal advice or as creating a CPA-client relationship.]

That’ll be $50.”Document EVERYTHINGLiving with tenants means you see it all—good, bad, and downright ridiculous.