The administrator of a foreclosure doesn't really care about such things, but may know.  

I’m currently in college working on getting my associates in business administration and accounting.

So if what it does is a farm- it still goes on FIf the LLC does a business it's sch CIF the LLC does a rental it's scn EThey are thinking an LLC= a business - which is wrongAnd they are likely planning to put any general administrative/business costs on Sch CWhich would make them non-passive, non-tied to rentals, and those losses deducitble incorrectly. 

I know many are all up at arms about all of this but I still simply think it is not too far from what use to be with a little twist. 10 years ago, many were concerned about similar ramifications with "mortgage processors" and whether some states required license for what was usually considered an administrative task.

@Jason Tucker I've never personally built a new apartment from my own funds, but I design and done construction administration on 5 of them so far.  

Self Directed Solo 401k plans do not cost that much, so administrative overhead is pretty minimal when you spread the cost over several years of investing.With tax liens, the asset cost is pretty low, so you can actually put the money to work even with a smaller initial balance.Alternately, you could just setup a Solo 401k with a mainstream brokerage for almost nothing, and focus on contributions for a few years.  

From there you'll want to add whatever other income you might have from laundry, storage, etc, and then you'll want to back out all your expenses - vacancy, bad debt, taxes, insurance, utilities, prop management, professional fees, general and administrative, advertising, etc.

Check with your plan administrator if there is such option. 

Some combine it all into one "administrative fee" and some itemize on the HUD. 

@Shanequa J.I only send letter's where the administrator is "In Pro Per" No attorney involved.