I agree that landlording is a business and should be treated as such.

In my opinion a college degree teaches critical thinking more than anything and helps with the ability to susinctly address a subject - a degree in business would be of benefit; especially as most people in the industry treat it as a hobby.

Now all the loan officers ive talked to are trying to treat the sale of the property as a rental property.

You entered into this with the expectation that a friend would treat you better than a stranger.

Yes, that is a distinction, but it's not up to you to determine if you want to treat the income as business income or cap gains.

Our rental activities had always been treated as engaging in a “passive activityâ€â€“ not a business.

Should 95% of the people who plan on treating this as a business and not a hobby and plan to make their living in real estate get one IMO yes.

I've noticed that each state may treat mobile homes differently.

To make it a rental and recapture depreciation when you sell, that might be what you need to do, otherwise treat half as a rental and half as owner occupied....might check with your accountant on this one...or Charles Perkins here on BP!

On the Web, I read that Borate pesticides t can be used to treat wood ( but best done on new construction ).http://www.domyownpestcontrol.com/boracare-p-100.html?