Well I agree with John Jackson and Bill Gulley.I think its a mistake to think SLOs are easy in this new SAFE Act and CFPB arena.Not easy does not mean impossible or dangerous, just be informed of the risks, and treat everyone well, especially the TBer (coaching before they go in the property with a licensed Mortgage Broker with credit and FICO).John Jackson has a great FICO coach as do I that also does mortgage origination.

Costs of notices may be at the expense of the borrower and treated as advances for taxes or insurance to principal.If these guidelines were followed regulators would then make the assumption that the loan was not predatory so long as the profit margin for the dealer did not exceed 100% from any sale under $25,000.00 for any MH older than ten years.I'd say that covers it, IMO.

They might force the loan to be treated as a cash-out refinance.

If you were not active in real estate you MIGHT be able to justify treating it as a capital transaction.

., or are you using sq ft of floor space, which would skew numbers significantly if you have three rooms vs one big one and the sheetrock is being removed from all and the studs treated.

You have to elect for it to be treated any certain way.http://www.biggerpockets.com/forums/12/topics/76052-simple-taxation-questions

Land Contracts or Contracts for Deed are often misunderstood by investors in terms of how they should be treated for income tax reporting purposes, especially when the Land Contract or Contract for Deed is part of a 1031 Tax Deferred Exchange transaction.

Also, if you want to take money out of the business throughout the year, but only technically want to pay salary once at the end of the year, you can treat the money being pulled out as a "Loan to Shareholders" and then let you accountant reconcile it at the time the taxes are paid.

As much as it humbles me to have to agree with Bill (Just kidding, Bill) I have to agree with Bill.He's right - one, you have a contract for deed and your view, or your contractual agreement that you can elect when to turn that relationship into a mere tenancy and treat it as such, may not fly - probably won't fly.Bill is right again, (man, this is painful) that landlord/tenant court will smell quickly that this conflict is not for their shop, and push you down the hall to civil court.Ok, now Bill is right again, in my opinion, in that you need to see Mr.

In the infinit I was tboned by a pickup that decided to run straight through a stoplight when the power was out and everyone else knew to treat it as a four way stop.