Please share if claiming the partnership status will have some advantages with recouping the passive losses.Really appreciate some guidance on the topic. 

While I agree that having Apple and Google coming here is a boost to the area there maybe 1 downside to not selling now: as this is your primary home by selling it for a profit it would be tax free where if you turn it into a rental you would lose the tax free status. 

I need an update immediately on the status of your payment.

Would this fee be expected to be the same independent of partner status or not?

As far as the park goes, do you have any information on the home ownership status?

I just wanted to update everyone in this thread of the status of the deal.

Has anyone ever gotten questioned or audited when claiming the real estate professional status?

Last point, I have never heard of a bank or FHA checking up on the owner occupied status of the property.

If I were in your shoes I would tell the town you were told they were siblings and you don't question familial status as it is a protected class. 

I need to do some title research and have a lawyer determine if the HOA's legal status is sound.I want to do all this due diligence ahead of time because I'd rather spend that money than do the deal and find out the HOA is solid.