I imagine they will take the position that what we call "hard money lenders" will need a license (simply because 15 years of experience with the DRE leads me to that conclusion, not because it's fact).

My conclusion is that the information I request is reasonable.

So in conclusion - there's definitely times when the job is boring and not a lot is happening.

@Tom WalrodI can only repeat what I said 4 months ago on this very thread and what @Logan Allec essentially restated: there is nothing, as of today, that answers this question conclusively - as far as we know.The key concept is that 20% deduction only applies to "a trade or business" - an extremely fuzzy concept that has not been defined in the tax law for decades and instead has been continuously litigated, with not much clarity as the result.We can guess whether or not any particular case will pass the current court-tested "trade or business" criteria, but it still does not go past the guess status.

When you mentioned the FL limit on "our" money in the trust account I jumped to the conclusion that the property management company owned some of the real estate directly :)

Source: https://hmbtx.com/blog/step-up-in-basis-for-assets-held-in-a...Does this source and conclusion look legitimate to you?

And therefore his conclusions relative to how much money is left at the end of the day to invest were overly optimistic...That said, I do have the portfolio and the financial statement that he talked about.  

its also a traditional, single loan, 30 yr fixed term mortgage.In conclusion, these loans are valuable at preserving Cash on Cash returns.  

Most judgement awards are because the Defendants like, alter documents and do other stupid things.About 15 years ago there was two separate lawsuits in two different states and the judges for both lawsuits said, "there is no conclusive evidence that mold is harmful to your health, in any way".Maybe that is hard to believe, but there is as many as 50 different types of mold in the air around you every day and mold has been around since the beginning of time.

We have come to the conclusion that flipping is going to be the best way for us to join the REI community.