the only problem I don't have my license in Nevada yet, so I was an ordinary citizen.

When you do that, do you claim losses as ordinary business losses?

This can be considered a business(from what i understand), thus allowing you to take an income, if there is one after all expenses, including a separate prop mgr.Yes you would pay taxes as ordinary income, but the appreciation, once you sell, is what remains in the IRA.

I have the following, does anyone think I am missing anything or should remove any items from the list:Price per square footAge of construction Type and Quality of Flooring BedroomsBathroomsKitchen Parking availability Heating and Air Conditioning Exterior amenities - front and back patios, pools, landscaping

As for tax benefits, an LLC doesn't really provide that--if it's a single member LLC it's treated as a pass-through entity and just treated as ordinary income (minus the improvement/repair deductions and additions to basis you can take for rental property).

I have 3 patio homes in a single development, and love them.

The profits from those businesses are ordinary income and aren't elgible for 1031 exchanges.

Now you are converting passive income to ordinary income.LLC are pass through entities (unless you elected to be taxed as a C Corp).

How to report ordinary maintenance or problems4.

. -- What would you ideally like to hear from an ordinary investor for instant credibility?