Otherwise, the renters could be bitcoin mining or driving 2-3 electric cars and you’re paying for everything. 

Also, Rivian is a new electric car manufacturer that is setting up in the old Mitsubishi factory in Normal.

Don't drive a new car to town; we have some of the best body and mechanics in Texas - in chop shops.Ah, just kidding. 

In my network I've reached out to a RE friend of mine and she has a investor end buyer that is interested in my deal which consists of 3 properties as a package deal from the seller i.e the seller does not want to sell just 1 of the properties it must be all 3 of them which are cash flowing rentals.My question is my RE friend has to legally transact the deal on a "CAR" purchase agreement.

4) What if I do the same for renting car to my own LLCs via a fomal lease agreement ?

Hey @Jorge Leon - It might be worth looking at your insurance as a total package (i.e, car, home, umbrella, etc.) and take that to a broker who might be able to get you an overall price. 

If I still pay $100,000 and ask the seller to pay $3000 in closing costs, that is not a taxable event"I'd be interested in hearing your support for these positions Greg, please feel free to cite your sources.If we use that line of logic, a worker for a car dealership can request a down-payment on a new car instead of compensation, and not have to pay any taxes. 

I think they more or less are living there, but proving that is another matter, as they are claiming they live with a different relative, but their cars are often at my apartment building.

Your post, @Steven Westlake, reminds me of others here asking about car washes and self-storage facilities. 

I know there are risks: breaking my window, breaking a tenant's car window, tripping over a cypress knee and cutting off their own foot, etc.