LLCs in CA are very expensive.The IRS defines a real estate professional as someone who spends over 750 hours in real estate trade/business (landlord, flipping and building count).

The form is necessary because a residential sales offer consists of a lot more components than just a price.

low-mod housing may well be a tax credit program, so the land is already defined for the project and I doubt the developer will pick up more in that project, but may take it for another project. o may other investors, so now may be a good time to sell.Don't know what your property is so I can say it's a plus or minus.Biggest issue will be population concentration which leads to parking issues, additional traffic, and where there are more people there will be more personalities to cope with, crime could be an issue.Any objections may fall on deaf ears if the city has already signed off on a Sec 42 project largely depends on politics and the meeting is a requirement under such programs but it really is a formality.....however there could be a chance if all neighbors object...just depends.I'd ask what the % of low income and mod income will be, 20/80, 50/50 as that will indicate who is moving in.A nice project, regardless of who is in there almost, that is well managed can be a big plus.

Hi John - To figure out a good starting point, you may want to start by trying to define what your personal investment objectives are.

There are two components to value:1.

That person said it should be used as one component of your marketing, not as a replacement.

In this area you can find low pirce houses, when you put all the other components into the calculations the spread isn't to attractive.

@Aaron Sims,Your question is a legal one that involves state laws and tenant rights as defined by the state where the property is located.Please seek advice from a lawyer where the property is located.

Those pieces of information definately clarified alot for me and hopefully others.

Alot of newbies to any type of business venture have cold feet because of the not knowing and stories like yours are definately an asset to the newcomer's confidence!