Most likely you will be inclined to not treat the cash movement as a loan because of other administrative issues ( such as interest calculation and interest income to the LLC) If you dont want to treat the movement as a loan, then those cash movements would most likely be booked as distributions to a respective member of the LLC, ( husband in case husband's LLC), and the subsequent capital contribution from another member of another member to LLC ( wife's LLC).   

Hi Brian, It's possible your friend will need to obtain a business/commercial loan for this enterprise.

My wife and I attended the live training in Scottsdale 3 years ago, along with several subsequent meetings and national conventions.

If it must be notarized, you're right you can't do that from 5 years ago.But could you get a statement from both of you, attesting to the existence and subsequent destruction of the trust documents, have that statement notarized along with a new trust, and submit to the title company?

[ibid.]Subsequently in the code, the only use that approximates vacation rental is a bed and breakfast, which is not permitted for a residentialneighborhood.

Still kind of early, but the labor rates and materials appear to be very low.I have Office 2003 enterprise ed, and when I tried to open the bonus materials in the form of docs, xls and pdf's, I had to download the 37 MB, Microsoft Office 2007 compatibility app, in order to read them with M.S.

Most recently I opened an account with Intuit who has subsequently opened a "review" to see if they and their "partner banks" allow rental businesses to receive ACH payments for rents/deposits.

Business Management and Marketing are rather broad and general majors based on my experience and if you stay with them, you may end up with a $35k job out of school, or working one of the "Management Trainee" programs at say Enterprise, that have a high failure rate.My path was Accounting, and it's provided me a salary in my first 10 years that has allowed me to save up for down payments on properties, as well as easily qualify for loans w/ my steady salary. 

@Peter Davis, The requirements to defer all tax in a 1031 are to purchase at least as much as you sell (100k minus closing costs) and use all of the proceeds from the sale in your subsequent purchase ($20K ish).So if you did a 1031 and purchased at least $100K in real estate using all $20 K in cash you would defer all tax,That is the beautiful thing about a refi and 1031 working together. 

If the year 1 Bonus Deprecation exceeds the deduction limit are you allowed to carry forward these deductions in subsequent years until they are exhausted?