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By moving back into the property you create a period of nonqualified use, thus only part of your gain is excluded from taxes. 

Most of the housing volume in the Poconos is found in the developments that were created during the boom of the 80's and then again in the late 90's and after 9/11. 

Do I quitclaim back into the original LLC or create new LLC as folks could follow chain of title pretty easily.  

But you don't need Legal Zoom to create the LLC, you can do that online mass.gov for just the filing fee. 

I do currently create and tenant account with their last months and security payment.

However, know that not all mentors are created equally.

There's a lot of discussion around partnerships, private lending, and hard money, but I don't see much discussion on the actual mechanics - what these arrangements look like in practice.My hope is this post can serve as a reference for those starting out, so we may get a better understanding of how these strategies are actually implemented as well as an ability to more accurately predict the profits and returns you and your lenders and partners can expect.If those with more experience would like to revise these numbers and statements, it would be most appreciated.These scenarios assume you, the flipper, are bringing none of your own capital to the deal.Typically, this would mean 1 of 2 scenarios...Private Lending - Someone you know brings 100% of project costs (purchase, rehab, acquisition costs, holding costs) to complete the deal and in return, they get a certain percentage return which comes out of your profit.Hard Money + Partnership - You get a hard money lender to cover 80-90% of purchase+rehab and a partner to cover the remaining 10-20% as well as acquisition costs (including hard money origination and points) and holding costs (including hard money interest payments).An aside about the structuring...Private Lending - A promissory note is created, and your private lender lends to you or your business. 

If you're able to position create an ADU the fees should be much less.

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