A self employed contractor is not an employee and a contract employee is an employee.

This practice appeared common.

It is common for commercial loans to be specified in LTC because people don't want to have these debates when the bank can vary their underwriting parameters.

gkgkgjk

His stuff is all common sense and nothing new.

my partner and i have been talking to a cpa and he told us to start up an s-corp to avoid self employment tax which is at about 15% in minnesota. according to him we would 1) incorporate our business 2) file with secretary of state 3) get fed and state id #s 4) file sub s status 5) open bank account 6) buy quickbooks. is this what we should be doing instead of having an llc with my partner?

These are no doubt supported by employment,wages, low interest rates hence payment buyer affordability.

What is the most common method used by your tenants?

Possibly prove damage with a professional termite inspection. ...Better yet a good photo.Looks like common sense and thoroughness as much as anything else.Heh...

There are 3rd party loan administration companies that will also "professionalize" the loan transaction, and give the lender more peace of mind.Many advise, for the security of the lender, that you execute a couple of additional documents: (1) document permitting the lender to deed the property to themselves if you are more than xx days late on the payment (often 30 days), and (2) an assignment of rents, allowing the lender to intercede with the tenants and begin collecting the rent directly if you are more than xx days late on the payment (again, 30 days is common).