Those tax returns are due by June 15th of each year and you should consult with your tax professional.W-8ECI Form remains in effect for a period starting on the date the form is signed and ending on the last day of the third succeeding calendar year, unless a change in circumstances makes any of the information on the form incorrect.

Let's break down the pros and cons of each approach:Forming an LLC in the State Where the Property is Located:Pros:Compliance with Local Laws: Establishing an LLC in the state where the property is situated ensures compliance with local regulations and laws specific to that jurisdiction.Legal Clarity: It provides clear legal jurisdiction and may simplify any legal proceedings related to the property in that state.Perception: Operating with a local LLC may give tenants and local authorities confidence in your commitment to the community.Cons:Additional Costs: Setting up and maintaining an LLC in another state means incurring additional registration fees, taxes, and possibly hiring local legal counsel.Administrative Burden: Managing multiple LLCs across different states adds complexity to your administrative workload, including extra paperwork and compliance requirements.Tax Implications: You may face tax obligations in both the state where the property is located and your home state, potentially leading to double taxation or complexities in tax filings.Managing Through Home State LLC:Pros:Simplified Management: Handling all properties under a single LLC streamlines administrative tasks, reducing paperwork and simplifying tax filings.Cost Savings: Avoiding the need to establish multiple LLCs in different states saves on registration fees, legal expenses, and ongoing maintenance costs.Consistency: Uniformity in management practices and legal structures may contribute to efficiency and ease of operation across your real estate portfolio.Cons:Legal Exposure: Operating out-of-state properties under a home state LLC may expose your personal assets to the laws and liabilities of the other state, potentially diminishing the liability protection the LLC offers.Compliance Challenges: You'll need to ensure your home state LLC meets the legal requirements for conducting business in other states, which could involve additional filings and fees.Perception and Credibility: Some tenants or local stakeholders may prefer dealing with a landlord who has a local presence, which could impact your reputation or relationships in the community.Ultimately, the decision depends on your specific circumstances, risk tolerance, and long-term goals.

Some will angle for refunds due to their financial circumstances.

They will be subject to the same criteria, except they must have an income > 80x the monthly rent.Under no circumstances can you make exceptions based on a good story.

We have been able to do this with several of our strategy clients, but the facts and circumstances matter, as well as the location and characteristics of this attached unit.

I recently picked one up for a client on Cap Hill that will cash flow positive even with him living in one unit (rare, special circumstances on that one but even if you’re just offsetting some of your living expenses it will be so much better than renting).

If it is up at the end of April, do not let her extend her stay under any circumstances and watch out for anyone booking it for 30 days as she may try to rent it under someone else's name.

Your two kids (and counting) are counting on you to rise above the circumstances you created and do better.

I believe that the knowledge and experiences shared in this community will be invaluable, and I am eager to learn from all of you.I would greatly appreciate the opportunity to connect with fellow investors, especially those in the Vancouver area or anyone who started their journey in similar circumstances.

You might need to flip this to a "flip" or "renovation" loan depending upon the circumstance.