This way we receive any proceeds from the sale up to our payoff amount or whenever we cut the bit off at, then the h o a receives the rest.

They tend to be demanding because they don’t travel much and think they should receive hotel service at a much lower price.

Unlike corporations, where owners may be subject to double taxation (the corporation pays taxes on corporate net income and the owner pays on any dividend income they receive), the LLC itself does not get taxed.

You will report worldwide income on your resident tax return.You will also be required to file a non-resident tax return in the state that you have rental properties in.If you pay any tax in the non-resident state - you will receive a credit for taxes paid to other states on your resident tax return.

It was my impression he was very interested in doing the deal and I was excited to work with a flipper which in return I will receive valuable advice.

Give him a document that you sign that states if he leaves the property vacant, clean and upon giving you the key's you will return his deposit...

With all of that being said now my question is, what type of documentation do I need to keep to prove to the banks in the future that I have been managing this property my self??

With her teachings, coupled by other education I've received on the subject, I've been able to invest in several MHs, and finally about 18 months ago a small MHP!  

If one overpays the state income tax, they receive a 1099-G the following year for the refund amount.

My question is, how long from when they first receive that letter would I have to send the homeowner a letter offering to buy it, before the bank officially owns it and it is in official foreclosure.