In fact I would bet not even the asset protection services who send you down these rabbit holes can and therein lies the problem...

I don't think we will reach those lows again, but wouldn't necessarily bet against it, either.If you are skittish now, I'd get it on the market right now while there's still a season left, and price it to MOVE.  

In this transaction, the value added wasn’t through physical renovations but rather through quick market positioning and strategic timing.

I bet you could quickly get an idea about financing, insuring, and feasibility from them.

TIAErich your best bet would be to amortize it over thirty with a 5 year balloon. the issue with private lenders  vs. banks is private lenders use their money to lend and many times it may not keep up with inflation - so lending for that long does not make sense.

Is it better to open an LLC in the state where the property is physically located OR in the state where I live (Colorado)?

They’re also the investors who miss out on the transitioning neighborhoods because physical observation is the best way to spot the neighborhoods that are transitioning real time.

Also remember the time these returns will take to amend along with the possibility of opening up audit periods/red flags with the IRS due to amendments.Doing this yourself on turbo tax likely won't be your best bet considering all of the details.

Stay local -- you have to be there physically.

If they don't have one, I bet they know somebody.Answering your questions:1.