The idea of using real estate professional status and then protecting those assets in an LLC which is owned by some other more fancy asset protection structure is nothing new.

What is the status of the soft costs (ie tap fees and development fees) of your build?

@Sachin ReliaI know they just launched a new reit 2, in their last reit they have yet to submit their audited financials from 2022 (due by April 30th) or their semi annual report for 2023 (due by September 30th)They also have switched auditing firms in this new venture….I would ask them the status of the above.

I don't do "financial goals" for the owners, but if you do, be prepared to know what to do when your client is below the financial goal of "x" but he has the expense of "y".Tenants don't (and shouldn't) care about the financial goals or status of the owner.

You can only check on your taxes with the IRS if you know all the details of your return… some are easy enough… name, filing status, but then they also ask for the amount of tax due or maybe it’s your AGI… I forget.. but it’s nothing you will know if you don’t have a copy of your return.It’s total BS if they are going “Huh, I don’t know what’s going on.Here’s the frustrating part.  

One of my homes which used to be a marital house brings in just over $100 a month when it’s all said done but has tax incentives which makes it still a viable keep.

[Status]- Our current home is owned free and clear with no mortgage on it (Est value 199K).- We will keep our current home as an investment property.- We will get a new home as our primary residence (Approx  400K).- We will be taking a loan against the current home to cover the down payment for the new home.- Additionally, we will use the loan to remodel our current home and rent out. 

Accredited investor status is too low.

So back to a NECESSITY for ANY buyer having documented evidence of the terms surrounding there actions in showing to definitively make clear agency status. 

I know that :)   I have great credit 740+ FICO, a few flips under my belt and this current project isn't complicated ($110k purchase price, $20k rehab for cosmetic fixes).They pulled credit before my term sheet was issued :(   90% LTV on purchase / 100% LTV on rehab  (What they sent:  65% LTV on purchase / 100% Rehab)Rates starting at 7.49% for 12 mos  (What they sent: 10.49% + 2.75% Loan Orig)We have a tight close date and I have to call the Account Executive everyday to find out what the status of the loan is, term sheet, etc..I'm not sure if I will use them for this project as I have already received 90% LTV for purchase and rehab, 9.49%, 12 mos, 1% loan orig, from another source but I wanted to try them as I heard many good things about them from other investors.