Repair existing rear deckwhich consist of replacing board on rails and decking and secure deck properly from moving.3.

Existing properties in NJ may be 1031 exchanged at some point in future.Thanks in advance for the help and Happy New Year!

An LLC is a legal entity that doesn't exist at the federal tax level.An LLC can be taxed as a Disregarded Entity, Partnership, S Corp, or C Corp based on number of members and elections made.An S Corp is a federal tax status (that many states also follow) that doesn't exist in the legal world.An LLC taxed as an S Corp vs a corporation taxed as an S Corp is the exact same at the federal level (there are potential state differences).

We purchased the distressed property as a Subject To, taking over the existing mortgage payments.

So are you suggesting Tampa is on the up or is it now saturated with buyers and a sellers market?

Whole sellers exist for a reason.

A lot of questions here...As your dad has a 50% interest, and a trust owns the other 50% of which you and your two siblings are the sole beneficiaries (I presume), it might be advisable to, after the trust interest is distributed, to have your father, you, and your siblings contribute your interests to an LLC in exchange for shares of the LLC (usually called "units").The property would be re-titled in the name of the LLC and the LLC can use it as collateral for a loan.It's usually highly advisable to engage an attorney to draft an operating agreement in this scenario to get everyone on the same page about ownership interest, who is/are the managing member(s), what happens when someone wants to sell -- do the existing members get 'right of first refusal', what happens if a member passes away, etc.

A lot of policies will not cover existing problems.

Fire pits are a bonus as well, again be careful, there's a a number of potential issues that might exist (though I have one and people love it). 

Is there a way/resource I could use to find out if any offers have been made or will be made on the existing condo community?