We seem to agree mostly, just took a long time to arrive at that conclusion lol.

I read both stories and came to the clear conclusion that clearly MR De Guzman did not act in good faith and that is putting it lightly.

I've had some experience with smaller MF deals and have come to the conclusion that they can be good, but there are also many perils and risks that require much caution.

How about before you jump to conclusions on someone new, you actually find out something about them.  

Don't want to bust any chops so I'll just state what I know and let you draw conclusions. 1 psi of water pressure is 2.307 ft of change in elevation.

(you fill the blanks with your conclusion here).Bottom line, check out how many countries in the truly developed world have coverage for ALL their citizens, as imperfect as that may be, and how many allow their weak to go uncovered, with all the consequences that stem from that.

My conclusion was the idea of turning a vacation into a tax deductible expense was bogus.

If you have a Property Manager, I guess you're working for him too.So, I guess what you're saying is that if you don't want to be working for other people, you shouldn't own property...Following that logic to its natural conclusion, yes I guess that's so.At least one can get out from underneath the bankers thumb.

I've read elsewhere that an LLC is required to reap those benefits, however, it sounds like the conclusion reached here is that an LLC is not required as long as it all lands in the schedule E.3)  I'm sure this is a ridiculous question, but, we're all talking about creative ways to exploit this new system so....Let's say I have 3 rental properties. 

Mike, I thought about it and has investigated more than once over the years and always came back to the same conclusion.