Each real life scenario you just named has its own respectable tax filing category.

Scott, with respect to what you said, I ask because florida is highly seasonal.

I do hope I'm wrong and also hope folks from BP engage in their own due diligence instead of blindly investing because a respected Sponsor or Developer may be affiliated.  

Respectfully to all above.... and belowNick Vertucci    

Several leases I had seen also had an inventory list with all furniture, kitchen items etc that the landlord makes the potential tenant sign off with respect to damage, going missing, etc.  

You are both experts in these areas, respectively. 

I'm asking out of respect.

The two are very different investments with different capital requirements, holding strategies, most importantly, exit strategies.For IRR to be meaningful, the properties being compared should be very similar in almost all respect.

I understand your comment of "steady wins the race" and I can respect that.

I do think a "parent" LLC may be a good idea for the company in general, especially when you do the sale with respect to the construction liability and warranties.