I think if you are only turning properties over for short term profit and ordinary income, why burden yourself with the expense of an LLC? 

Passive losses can only be deducted against ordinary income up to the $25,000 special allowance, and even then you're MAGI must be under $100,000.How many deals like this have you personally done and how much of your own cash is going into the deal?

I think I will have to look for a place that needs more than basic work but little enough to beat the easy fix flock.I've noticed that either the property investing market is small or there a lot of people with little interest of sharing info, makes places like this website great, do you find much is completely transferable from the USA to the uk market or would you stay it ends at "people buy the kitchen and bathroom" as Brits don't even seem to worry about bathrooms that much..

If you paid him a "consulting fee", you'd have to 1099 him and he'd pay ordinary income tax.

I assume they need average rehab because they all seem to and make my offer accordingly.The walk-through and inspection is really only to find anything out of the ordinary like a meth lab or sinkhole.

You need to track all your items separately.If you own a $700K house I'm guessing your AGI is to high to be using the passive loss this may create from your ordinary income.

But the ordinary noise of people living in their space is part of life when you live in a poorly constructed upstairs/downstairs situation.The best thing you can do in the future is warn your tenants about this.

@Brit FosheeThis can be a great strategy.

If the seller finance they do not pay the capital gains until they exceed their cost basesthis is calculated based off principal payments received but the interest is taxed at ordinary income.

Any such notice or demand shall be deemed to have been received by you when it would have been delivered in the ordinary course of post.13.