Also, if we were to enter into the LLC as members (thus creating that 'split ownership' situation), would we be able to do a 1031 of the property at a later time (as soon as a year time frame where the property was renting for 12-13 months then we seek to do a 1031 on it immediately after).

I saw the warranty deed and it says:Address: ......Legal Description:........Toghether with that certain .....Mobile homeIdentification tag:....Title No:....Subject to taxes fro the years......Also when I went to the property appraiser website and entered the parcel number there is a Tab "Improvements" that shows all the details of the mobile home, year, size, etc.I called the Tax collector, Tax deed sale office, DMV and nobody has a clue if the mobile home is attached to the land or not.I am afraid of wining the auction, pay for the land and fix the mobile home and next year the owner of the mobile home just shows up and tell me "Hey look I have the Title of that Mobile home is my Personal Property and I will remove it, thank you for all the improvements you have done, have a good day!"

Do I enter the full purchase price in my Cost of Purchases or just the down payment on the Schedule C?

I'm not an accountant, but entering an opening balance when you first set up the bank in QB sounds like the easiest thing to do (as long as recording the sale of your other investments to QB is not important.)

Hello,I am contractor who has just recently entered a partnership with two other parties.

Find reasons to enter the property periodically (every 4-6 months) such as smoke detector checks or air filter replacements.

Now you have to manually enter every dollar amount AND  category (which allows you to miss a lot of expenses).

It is the choice of the Tenant Buyer which to choose.I explain before we enter into the Lease Option agreement.

It's also on the "downtown side" of the tracks, just outside of multiple subdivisions that enter town when they cross the railroad.Would love to discuss things further with you.

The following week I had too enter that unit for a plumbing matter and when I walked in I was in complete shock.