That would happen if K-1 from the LLC incorrectly reports rental income as ordinary business income. 

Is the whole house wired incorrectly??

My name is Nicole Brodahl (my profile is incorrect - not sure how to fix.)I have a very long winded statement/question.

Ps none of my probate mailers panned out, so I'm not sure what I did incorrectly.....though, again, that's what my friends say is the most lucrative......but not based on my minimal experience. :) Sorry I cant help you more.

Any help would be appreciated as to my understanding if it is filled out incorrectly, it could lead to a denial.Scenario: Relinquished: Purchase price $120k in 2/2016 - sold for $225k in 2018No improvements, depreciation over 2 years = $7kReceived: Purchase Price $403k My accountant did the adjustable basis.... at ~$240k and realized Gain at ~$162k (lines 18 and 19 on form 8824 respectively).Many thanks for any input.

@Gina SgroaYou are incorrect .

The Landlord can only ask two questions, as you stated.However, you then mention "validation from the ADA" which is incorrect.

I do not have the cash to purchase a multi-family in my area outright to BRRRR a property or is my understanding of the BRRRR incorrect?

David, pretty much what Kelvin quoted you saying in his post is where I initially targeted the formation of my opinions, perhaps wrongly, but I'm not saying I'm incorrect in those assumptions.

Second picture is after the incorrect drywall was taken back out, the window was correctly framed, and the correct backer-board (wonderboard) was installed.