Problem is: it is easier to get a loan BEFORE they retire as income is higher.Also my guess is reason to retire suddenly is health.

They point out that health insurance plans pay out $95 or $97 in claims for every $100 in insurance premiums collected, but title insurance only pays out less than $20 by that same metric, leading to an unusually large profit margin. 

Now that Ive painted a basic picture of the house I want to move on to my real question about the ownership status of it.

Yes you have economies of scale that allow for better property management, and repairs, but you also have the added problems of additional accounting actions, providing status updates to your investors, and just the wasted time looking for investors in general. 

Hi Nathan,As you suggested in your post, the best way to go about this is to speak with an accountant with experience in real estate investing to discuss what the elected status of your entity will be.

The proposal announced by Council President Sean Elo-Rivera is expected to outright ban or limit:An owner or their family members from moving in.Substantial remodels or rehabilitation of a property.Withdrawal of residential rental structure from the rental market.Please voice your concerns  - this will become the status quo - if you think they are going to end this "emergency" anytime soon here, think again.  

From a tax perspective, there is a potential advantage if certain thresholds of income are generated annually by the Operating Company, and the entity has elected S Corporation status.

As long as your health is good, age is just a number.

His health wasn’t great and from what I can hear over the phone he was depressed.

If you are able to get REPS status, that would help tremendously.