I'm not an accountant or CPA, so take this for what it's worth...Unless the money coming from the C-Corp is being spent on tax-deductible expenses, I'm not sure you would be able to create any tax benefits.It sounds like you're just loaning money from one entity to another, and there are no tax benefits associated with a loan.

Our governing documents require the consent of a 67% supermajority of members to either levy a special assessment or to raise the dues by more than this percentage.

My accountant is telling me that I cannot deduct losses from my income because I make more then 150k at my day job.

The basic one I am just trucking along on in South Florida is as follows:65% of ARV (Investors tell me hard money here lends at 65%)Deduct $10K CommissionDeduct Repairs Assignability ClauseI've sent about 6 offers in already. 3 Rejected. 3 Pending.

You can donate the lease and get your tax deduction for that.Here's the down side of donating land to universities and to the state for parks.

Also, I will not forget to deduct 50% for expenses.

You might apply for a loan with them, tell them what is going on and see if they will allow you to assume it.The alternative is you stop making payments to him, sit in the house, and force him to go to court only to have the judge hear the fraud he is pulling.Another thing, removing the storage building after you looked at the property and agreeing to buy it, as is, is theft, but you'd need a contract dated prior to his taking it....however, you need to explain that to the attorney and/or judge who might make him take it back or deduct it from the price, if that is possible.He sounds pretty stupid to me.

On the financial, renting your primary residence would cause you to lose the deductions for home mortgage interest and property taxes and could force you to take the standard deduction instead of itemize on your taxes.

They said that I need to contact a tax professional because there might be tax implications and it may affect my mortgage interest deduction.

Im just going to bite the bullet and not take all of my deductions so I look like a normal person.