Our only saving grace is that my wife is on the mortgage as well.My Question: With all the above in consideration if we sell within the time limits, will we be hit with capital gains?

The creditor with a judgment against a member of a multi-member LLC is normally limited to charging order protection.

Please limit the discussion to linking up to talk, though.

(RICH, Lifestyles Unlimited, Newbie, Wealth Club)

It seems like supply is limited and there is a great demand for it.

August: Electrical, $75 service call.Sept: Exterior stucco repair $250.Oct: Landscape $150.My PM has a $500 limit before he has to call me.

To keep maintenance to a workable level I limit occupancy to 2 persons per bedroom.

IRS Guidelines for Single Member Limited Liability Companies:http://www.irs.gov/businesses/small/article/0,,id=158625,00.htmlA single-member LLC is a "disregard entity" to the IRS and treated like a sole-proprietorship.If you hold for more than a year its capital gains.

If there was a Hall of Fame for investors, Lonnie would probably be in it.It's too bad too that so many following this scheme did so as preditory dealers to the extent of having federal legsilation adopted to restrict the practice.I guess the best way to proceed is to make enough on your fist few deals, maybe sell the notes for cash and pay the fees to become a licensened mortgage originator and a dealer, otherwise you'll be limited to conducting business.BTW, Another similar "system" involves selling land, if it's zoned residential or can be used as residential raw land, it also falls under the SAFE Act.

They offer various options for coverage limits, and most of the time, they'll provide an evidence of insurance (underwritten through Lloyds of London from what I understand) the same day the web form is submitted.The biggest downside with them is that the cost is a bit on the high side