I've been working with a lawyer and my next steps, as I understand it, are to 1) file the articles of incorporation, and 2) Apply for tax exempt status as a non-profit. 

hahahaNo freakin way mate lolThat is bloody awesome :)I'll get the team to start blasting across our social media platforms hahaThanks for sharing Chad

It's current status is this: it is half rented.  

What’s his BBB status?

Great way to get in front of people relocating to Utah from out of state as well as locals.Putting up flyers in laundrymats, major employers in the area (example Weber State), hospitals. word of mouth/social media - letting everyone in your sphere of influence (family, friends, neighbors) know the place is for rent.

- How would the homestead exception apply here given that my taxes are currently escrowed and any change in tax status will more than likely make it to the bank?

You know how many times we repeat the same words to every pilot every time, this is very important in real estate, to say, in conversation, the same thing to everyone in certain circumstances, it means that if there is any misunderstanding you can repeat exactly what you said to jog any memory or impress any judge that what you said is consistent.I also used modified flight strips keeping track of loan status through processing and transactions. 

I'm here to make new friends in the Social Media world and just learn all that I can from friends on this site.Placido Rodriguez Jr

- How would the homestead exception apply here given that my taxes are currently escrowed and any change in tax status will more than likely make it to the bank?

This way, at the end of the year in 2016, if you really did have a killer year we can retroactively elect S status all the way back to Jan. 1, 2016.