One mistake can be forgiven the second never will be.Your vehicles and other assets can be held in personal property trusts etc.Just remember to buy plenty of liability insurance and both personal and commercial umbrella policies.If it ever gets to court your tax returns will be subpoenaed and subject to asset disclosure.So if the business entity operates the business and does not OWN anything because land trusts own every piece of real estate it creates another barrier to asset seizure.

One of the keys to the HUD 4155 is section 4155.1 4.B.2.c  where it says "FHA will not insure a mortgage if it is determined that the transaction was designed to use FHA mortgage insurance as a vehicle for obtaining investment properties, even if the property to be insured will be the only one owned using FHA mortgage insurance." 

A six unit building with seven parking spaces with everyone home plus your vehicle could mean a visitor may not find street parking and the only thing they may remember is "the place we had to double parked".I have done the open house style with a twist. 

Yes, she is in her mid-40s, a grandmother, a waitress at a local restaurant that I won't be enjoying for a while, and she's driving a vehicle that is 12 years newer than mine.David Moore has been asking me for examples of how Property Managers add value.

To complicate things 1) he has no vehicle.

The investing vehicles differ from person to person.

Those that don't stay ahead of the curve will be left behind.I'd be more concerned about the various factors playing into home ownership trends if your investment vehicle is SFH - such as home ownership among millennials, aging population, consumer and student debt, etc. 

I had no debt besides minimal debt for a vehicle and twice as much saved a few years ago, but with buying the first home we spent a good deal.

This means the initial interview is perhaps your most important interview in this audit.You need to get your proof of material participation time in good order and technically correct before your first audit interview.You should have a record of the time you spent on this activity.Your record of time spent should be made on a timely basis (kept at least weekly).As you do for the mileage record on your vehicle, you can keep a test record for three months in a row if that record reflects the average time spent during the year.In the initial interview, the IRS is going to scrutinize your travel time to ensure that the primary purpose of your travel is business.

It's also not quick as opposed to rentals and or flips but in my personal opinion its a lot more lucrative than some of the other investment vehicles.