Check with an expert to avoid providing seller financing subject to HOEPA, which imposes many more limits and requirements.Other requirements apply even if seller is not classified as a loan originatorEven if the sellers excluded from the definition of loan originator, the seller is only exempt from the loan originator requirements of the regulation.

I was told by one company to do a Point Count to try and get less than the state required 1% to not be classified as "asbestos" and, therefore, save money on the removal.  

I don't know CA stuff, but with the IRS there is the issue of being classified as a "dealer" for income tax purposes.

If you are making renovations, make good records of all the items you use in the property so they can be classified as one of the bonuses depreciate asset classification.The 27.5 years time span you are hearing is in connection to the actual structure and roof itself.

Is there a way to pay taxes on the rent for the previous three years to make up for not reporting the income, then classify it as a rental property?

It's in a good location with regards to proximity to town.I'm trying to determine if the area would be classified as a war zone or perhaps it's just a low income housing.

I responded to a classified ad, sent the seller a follow up letter after talking to him on the phone, and 6 months later, when the listing after talking to me expired, he contacted me for my lease option plan.

Also, I've found that when replying the most ambiguous and unprofessional replies usually work best, something like, "Hey can you call me interested in chicago property your selling 8474476824" [sic]. 

There is a solid community of very nice people of all walks of life who have relocated to CH - a lot live by the park / train (crescent / van sic)They do complain about the constraint noise.I live in Woodhaven further up and it's very underrated - further out but closer to rockaway and elmhirst via Woodhaven Bld.

The CPA plans the strategy, oversees the accounting process, and classifies the expenses and deductions so the EA can put the numbers on the return.