If you sell within a year, intent might not matter that much because both ordinary and STCG are taxed at the same rate. ( I am assuming you dont have a capital loss that could have been used by capital gain and you dont have pay 3.8% Net investment income tax based on how much you make).4) however, if you rent it out for more than a year, and sell it, and if you have documented you intent property, you would be paying Long-term capital gain rate.  5) no matter when you sale, you have to report rental income and adjust the basis as you mentioned. 6)I would not transfer the property in the GC business, for liability reasons.

Also since your investor is a member of the LLC they can be on the checking account and watch the money in real time this is a critical aspect of my companies.. and I don't have to make up reports etc.. they watch the business in real time … compared to if you have multiple investors and they are relying on your in house accounting and they are not on the checking account ( this mainly from the investors side of the table this is were things go sideways for investors.) no real access to the ACTUAL checking account only reports made up by the sponsor.. 

“If one of our customers gets a suspicious email that appears to be from us, she or he should report it to agentcare at zillowgroup.com as soon as possible so our team can review it and take action. ”Over the past year, most major lead-generating real estate platforms have grappled with this problem.

🤔When you rented out your extra bedrooms, did you have to report the income from them on your tax return forms?

This is part of my normal tax filing anyway because the US (not sure for other countries) now "requires" reporting of all income earned worldwide. 

7.If you like the property, are you willing to fill out an application for a credit, criminal, and eviction history report?

View report*This link comes directly from our calculators, based on information input by the member who posted.

Community organizer showed up and LLC's need to report to him on properties. 

PhilView report*This link comes directly from our calculators, based on information input by the member who posted.

View report*This link comes directly from our calculators, based on information input by the member who posted.