The association was defunct and there was no way the association's documents would ever be updated to reflect this.ANOTHER thing to be aware of is this: There is case law from New Jersey (not controlling in your state, but can be used for persuasive purposes - so may actually be relevant) that basically says an HOA has limited resources, there might be times/occasions when the HOA doesn't have enough money to pay the bills, it's reasonable for the Board to make judgment calls on which bills get paid and which bills do not get paid, and the unit owners elect the Board to make these judgment calls so the unit owners only remedy (as long as the Board is not acting in a totally irrational and unacceptable manner - as far as the court is concerned) is to elect a new Board - unit owners can't sue Board over their decision on what bills to pay.THEREFORE, while the association documents may say what the Board is doing is not allowable - in practical terms, it very well may be allowable....

Bill,I should have said "when you flip a property" I meant that singular.I'm currently in an audit for a 2008 return where the taxpayer in purchasing a lot and developing it was hit hard by the downturn in the economy and was unable to complete the home and took a loss on the property.I could go into detail about the tax comes from a contracting family.

These board members are lying and cheating on elections and votes.

I edited the wrong message, I meant to add my Assignment AFTER yours so you wouldn't miss it!

This has traditionally meant white Americans but today can also refer to english speaking American citizens of any national origin or ethnicity.

I meant TOMORROW!

This would require that he/she checks the folder, but you could always email the file too.This wasn't meant to be a plug for Dropbox, there are other apps out there that do the same sort of thing.

Sorry meant Purchase + rehab / net sales price

Thus a bad non-paying tenant in an SFR meant no help with the mortgage payments for AT LEAST 6 months.But it seems with the depressed housing market for sales, increased tenant pool resulting in rising rents, advancements in technology used to screen tenants and a more 'pro-landlord' court that has shortened the eviction time down to 2-3 months, SFR's as rentals are getting a second look.

As a multi-member LLC you will be taxed as a partnership (unless you elect corporate status, which I don't recommend in the case of buy and holds).