Quick disclosure: I'm just an ordinary person and if you notice, I'm not recommending Phill, or anyone else for that matter although I'm considering two other mentors.  

On the case above, likely considered developing/inventory....no long term investment intent, so ordinary income tax plus. self employment taxes, not cap gains.

A short sale typically requires documentation from the borrower he may not be willing to provide.If you want to send me the address I can look up the lender and see if it's anything out of the ordinary.

If you have a net loss on your residential rental activity and actively participate in the rental management, then you can use up to $25K per year in net rental losses to offset your other ordinary income (that is income from your W2 job) provided your total household income is less than $150K per year.  

But the minute you have more than 1 investor in those 2 scenarios, you now have fractionalized it and it becomes an investment contract and you are back within the definition of a security which is quite broad under the SEC definition.Judicial Exceptions include:A note delivered in consumer financing; orA note secured by a mortgage on a home; orAny short-term note secured via a lien or assets of a small business; orAny note evidencing a “character” loan to a bank customer; orShort-term notes secured via assignments to accounts receivable; orAny note which formalizes an open account debt incurred in the ordinary course of business, especially when collateral is involved.

Is there anything out of the ordinary about the floor plan?

If you want to focus on holiday property that the UK buyers care about you would pick SW facing in communities the Brits like.

What kind of additional due diligence would you conduct beyond an ordinary inspection for a home that was built in 1931? 

. - Electing to be taxed as S-corp will not convert your passive income into ordinary income.

I had considered this a "capital gain" and thought it would flow through from my K-1 to personal tax return as such, and as a result, I consciously sold a significant amount of my "under-water" stocks at a loss to try to "offset" that gain, so as to lower my personal tax liability.My accountant has informed me that because it was "rental real estate", it is considered a 1231 sale, and as such, it is considered "ordinary income" and not a "capital gain", with the important implication of that being that I am not able to use my stock losses as an offset.