As President of South Buffalo Realty Company, it is my opinion that there is still room on pricing in the Hopkins/SP area.

Note: You can make an election to elect to exclude the discharge income any debt related to “ Qualified real property business debt”.

I'm looking for some help with the proper business structure.I understand that flips and rentals are taxed very differently and should ultimately be kept separate.Originally I wanted to buy flips through an LLC (elected to be taxed as an S-Corp) and buy rentals personally.The problem is if I need a commercial/portfolio loan on a rental property the lender would likely require an LLC as well.I wouldn't want to use the flipping LLC since that would muddy the waters and create a "mixed use" situation.

We have elected Judges so there is no absolutes in this regard as they are not bound nor set precedent)

Following up on #1 above and altering it slightly -- why not take 1/2 of their rental bundle as rent for the first 6 months since you elect to rent the unit now in 6 month intervals and the other 1/2 as the deposit since it matches the amount of a unit of rent.  

Can I elect to use a half-year convention since it is to my advantage in this case?

I was voted on within a year of moving here and a year later, the annual general meeting was scheduled when we were going to be at my wife's 50 year high school reunion, they voted me in as president. 

I talked to my CPA about electing this year to be the final year to file these Partnership returns and K-1s and just move forward by splitting everything on our Schedule E's between the two co-owners. 

Sounds like from your post that they elected to sell it on the open market and you made an offer.

This will require a sophisticated software (electing to use Appfolio) and well documented processes.