If you file your taxes and you have 5 kids and you don't take that deduction, you missed out on the loophole- the IRS designed it this way- the ENTIRE system is a loophole and those that know how to navigate it reap its benefits and of course some of us miss them and find them later. 

the sale of the design includes CAD files making it easy to implement changes. 

It also affects what our proceeds were for that year , so we likely have to file and amended return.Can there be an arguement of fraud in this type of situation 

Kisses 🍆 lol a few years ago I had a wanker in town file a complaint against me for the language I use...I won, he lost.

It's been a few weeks since I reached out but I am moving into the remodeling phase on my property.  

In January of 2014 he filed an annual report and paid his annual fees.

They may wish to keep their personal name private from the other investors, etc.One potential downside to investing in an LLC (and that I've seen has cause people to change their minds and switch) is that the tax filing deadline is a month earlier for LLCs versus individuals. 

On repair costs, I've been advised in the past to use $15 sqft for moderate repairs and $30 spft for big remodels.

As long as it is a single member LLC you can just file it as a part of your personal taxesAll the best!

Purchase price: $55,000 Cash invested: $65,000 Sale price: $140,000 First complete renovation all but reframing--new electrical, HVAC, plumbing, complete bathroom and kitchen demo and remodel.