You can choose to report your income and expenses on Schedule C by electing to file as a Qualified Joint Venture instead of filing a partnership return.If you have created an LLC that is not in a community property state, and as husband-wife you are the only members, then you are a partnership and must file a partnership tax return unless you have elected to treat your LLC as a corporation for tax purposes.If you have created an LLC in a community property state, and husband-wife are the only members, then you are a partnership and must file a partnership tax return unless you have elected to treat your LLC as a disregarded entity or corporation for tax purposes.

The fideicomiso or bank trust, whereby the title is in the name of the bank but they don't lease the property to you; you're the owner for all intents and purposes.

Our lender has informed us that we need 12 months of rental history to use the actual rent for financing purposes, or we must rely on the appraiser's fair market short term rental value.

Flipping is more than likely to be considered trade or business.2) Rentals: Rentals are not considered trade or business for this purpose, so initial inventory costs cannot be deducted as travel expenses.

My investments were all what they termed private placement and was essentially funds used for lending, buying notes and recently land trust.After MIdland sprun this on us, my spouse also has accounts, I did some research but didn't see a purpose to remove our accounts at the time.I have not been with ET long enough to give comment on them and what little "issues" occured were technical.

Using a large RV or boat for business purposes offers potential tax benefits, but it's essential to navigate IRS regulations carefully.

I wrote the above for informational purposes.

While technically business purpose loans, these will still basically be 30yr (or whatever tenor) fixed rate mortgages.

This is for basic informational purposes I am not an attorney and this is not legal advice.First, if you offer to purchase a property using a HELOC to fund the purchase you cannot later back out of the agreement because you couldn't find PML or investors.  

I'm on house number 4 that I've lived in and renovated, so I agree that's a good strategy (I've done it just through life, not actually a purposeful strategy).