Some of the tax law I've read implies the settlement has to be used to repair the property and it is not taxed.

Though, I'm not implying the officer you talked to wasn't just being lazy...

The clarification about Trusts and illegal activities was intended as an explanatory note and was not, in any way, meant to imply that you are involved in such activities.Said that, yes, you are correct in that few investors use Trusts.

@Fausto Suriel, I see you referencing this as a "companion dog", are you implying "emotional support" animal or is the thing.....oops I mean the dog, a regular type pet that you are charging pet fees for? 

But he got rich in a country that voted for people that believe in larger government, isn't that what you're implying? 

I didn't mean to imply he was fly by night.... but let's say for example (and this is generic) he does few smaller remodels here/there and maybe 1 house... then you scale up to 2, then 3, now 5?

I'd never thought of it before until I read that online discussion, but I'm curious about your thoughts on the matter.I don't believe that the landlord is required to issue a 1099 - as the linked forum discussion implies.

When the end of fixed term arrives, if I don't like the tenant, they're out, and I rerent at market rate.maybe it's time to consider fixed term leases instead of "term not specified".Existing law specifies that a hiring of residential real property, for a term not specified by the parties, is deemed to be renewed at the end of the term implied by law unless one of the parties gives written notice to the other of that party’s intention to terminate.

As Kyle's post implies, find an institution that will meet your needs. 

I thought you were just implying that it is easier to make a mistake signing when part of my name is in the name of the LLC as well and that therefore can come back to haunt me if I get caught up in a lawsuit.