I know my area in Northern Virginia does not classify my home as a modular home.

In my younger days in the Navy, I believe this whole experience would have been classified as a circle jerk, and possibly even a cluster #%@. 

This is classified as a commercial loan as opposed to a residential.

Also helps classify income & expenses + no fee for landlord or tenant.

The 3/1.5 and 1/1 would classify it as a duplex so the down payment on a Non-Owner Occupied 2 unit is 25% which on 70,000 is 17,500.

The income for the LLC will be taxes, furthermore when you declare the dividend, that amount will be classified as personal income and will be taxed based off your marginal tax bracket.If you hold the property under your personal name, then you should not have to worry about a salary or paying yourself.

Look at the classifieds for similar properties renting nearby, look at Craiglist, drive around and call every for rent sign you see.These are all ways to determine what you should charge for rent not the loan you have on the property.

One of the incentives of a short sale was that you got a tax break based on an act passed by Congress in 2007.Short sales are classified as debt forgiveness, therefore in a normal situation homeowners would have to pay taxes on the money they received from one (in fact, the IRS is supposed to count the amount of debt your lender forgives as "income").

Classic flip and yes they were classified as dealer sales. 

It functions in much the same way as a Series LLC would function, but since it is classified as a trust you are not required to pay the annual franchise taxes in California that an LLC would.