Have her inform you of any problems with the home that she is aware of; make a visual inspection and determine what help you need to proceed.

I meet with pest control company for a bedbug treatment at another property.

If the LLC pays for the medical treatment, or if a lawsuit is filed and settled, can the payment be deductible since it came out of an LLC?

Fair housing laws state:If you or someone associated with you:Have a physical or mental disability (including hearing, mobility and visual impairments, chronic alcoholism, chronic mental illness, AIDS, AIDS Related Complex and mental retardation) that substantially limits one or more major life activitiesHave a record of such a disability orAre regarded as having such a disabilityyour landlord may not:Refuse to let you make reasonable modifications to your dwelling or common use areas, at your expense, if necessary for the disabled person to use the housing.

At some point it may make sense for your LLC to elect S-corp treatment (rather than straight pass-through) and pay salaries, in order to bypass some self employment taxes.

@Dion Depaoli - well we would hit them for their rent obligation where they are living however my scenario to my head UW was assuming Jason is living rent free with a relative or parents whether that is true or not its just a hypothetical.With respect to your scenario above if a borrower is to purchase a NOO property we're able to use 75% of gross rents to "offset," the debt service PITIA payment.If the income using this formula is positive its added to income if the net is negative its considered a monthly obligation and added as a liability to qualify for in the DTI.Fannie Selling guide is public you can find it on page 347 of 1319 where it talks about the treatment of income or loss when dealing with rental property.

(Tax elections and treatment, however, are more complicated and even I consult with an accountant on these.)I think from a big picture perspective, it's difficult to find a really "good" RE attorney for small SFR investing.

So, if you have a duplex where each unit has exactly the same square footage, and you live in one and rent the other out, then 50% would qualify for the 121 Exclusion and 50% would qualify for 1031 Exchange treatment.

Or, two, the property is held for rental or investment or use in a business and they qualify for 1031 Exchange treatment.

One gets "preferred" treatment (a pet) vs the one in the protected class does not.I only say that because Bill had conceded that he would allow them a pet after the fact so he obviously doesn't have a hard and fast rule against pets.