Account ClosedThe bookkeeping for each of those businesses is very different and they each require treatment accordingly. 

You just have to file a document called in election with the IRS.You can file form 2553 with the IRS to elect for S corp treatment.

They turned out to be Carpenter Ants which is my responsibility, but she wanted me to reimburse her for the $200 emergency call, however he did not do a full treatment so I had to have my exterminator come back out for another $300.  

Generally when people say group home they have a treatment population with a medical need in mind and lease to an organization.

So my thought was that instead of a refi on a harder to rent home in my area, flip into two or three lower priced homes that rent well.My question is on tax treatment. 

This tax treatment will not work for most investors, and for more than one reason.Why you usually cannot deduct the K-1 lossesYou probably know that if your family income is above $150k, you cannot take losses from passive investments.

Over time, I gained quite a bit of expertise in the tax treatment for my real estate portolio. 

I didn't pay money to get fb treatment. 

You also don't want to start the process of "special treatment" because then you won't be able to enforce any of your other lease stipulations. 

Be creative - offer to advertise a business by putting signs on your car as you drive around neighborhood streets; operate a staging or cleaning business for sellers and their realtors; act as a vacation rental host for out of the area owners who cannot do it themselves but would like their guests to receive the concierge treatment.