There are numerous reasons to use cash or accrual basis when doing your books.

The profits flow through to your personal taxes anyway....not sure what the benefit would be.....curious to find out differently though. 

This could let you go under contract with him but relieve the pressure of having to sell your property too quickly.If he is considering his own 1031 exchange then you can also benefit by being his best friend and giving him a flexible closing date for your purchase/his sale that starts his 1031 exchange. 

Last night I learned the basic benefits, how to do it correctly and what not to do.

I know I could put a mobile home on one of my properties but the cost benefit doesnt seem worth it.

The business would be disqualified to his IRA if his equity is >49% or if he has any kind of control over the company equivalent to a director position.Even if the business is not disqualified, there could be issues with the transaction if it creates any kind of direct or indirect benefit to the investor.

When you do so you send out a mass email to numerous contractors with an RSVP.

If you are very serious about this business, it may be worth considering the cost / benefit on an AdWords campaign.

I would like to avoid being taxed on the trust property being sold to the benefit of my LLC owned by my IRA ( but the the 590X forms are a bit tricky.Escrow is closing in a week and I really need to speak to someone right away!

We are now two days away from our third closing date and the underwriter has asked for numerous documentation in the previous days that was already in the file and had to be walked through the file by the loan processor to show hime where each piece was located.