Stop issuing 1099-MISC with box 7 "non-employee compensation" instead of box 1 "rent"Stop including refundable deposits in rent incomeProvide annual reports clearly delineated by propertyLearn the difference between maintenance, repairs and improvements and report accordinglyReport insurance reimbursements separatelyProvide supporting documentation: itemized contractor's invoices, insurance adjusters' reports etc

What Document did you see that “the mtg was paid off?

I had good relationships with my Realtor, insurance broker, and contractor.

And he misses out on all the benefits of it being owner occupied, like tax exemption from capital gains because he doesnt actually own the property.I bet he isnt properly insured on the property either, because if he insured the property in the llcs namr, the lender would have been notified of the change in coverage.

Good afternoon,If a tenant fills a claim does it always go to the owner s insurance or is the Property managers insurance also responsible ?

What if I do not have an LLC and do not have any documented lending?

They are instructing the homeowner to contact their title insurance company and file a claim so that the taxes can be paid, and if you don't have title insurance or the title insurance refuses to pay; you're SOL and have to pay the back taxes and maybe interest also. 

What we read over several blogs is,1. if we have to take out plumbing and electrical permit, we have to have a building permit2. if we ourselves take out permit then we are responsible for all the work and insurance etc.I will definitely call the building dept

One 2 Bd apt. and two houses, 5 bed's each.Financing Approach:80% Bank20% 10% down payment10% seller financing - terms to be negotiatedAnnual Financials:-5% vacancy (the market is emerging and vacancy is very low - we know this because we own a 4-unit in the same area, purchased from the same seller)-Rent roll: $55,800 - can be pushed up by $4,800 conservatively after rehabbing-Property Taxes: $4,277 -Insurance: $1,619-Maintenance / Capex: $11,160 (projected - 20% of rents)-Water / Sewer / Utilities: $6,200-Property Management: $3,600 In summary:At purchase:-$55,800 gross income-$21,903 total expensesPro-forma:-$60,600 gross income-$22,529 total expenses We want to get your thoughts on this deal.

Nope, as a landlord, I want to choose who lives in my place and hold all the cards.And if I wanted to share the cards with someone it would be a PM with a business and insurance, not a person wanting to make a profit by raising the rent above market rate.