The National Science Foundation did a study in the early `1990s that found 55% of adult Americans could not correctly answer "does the earth go around the sun or the sun around the earth, and how long does it take?".

I have corporate sales experience and my managing brokers license- with many transactions on both the buy/sell side. 

(1) Your MMLLC is considered a partnership for federal income tax purposes unless you've made a corporate tax election. 

@Frederic Babeux @Stephen Fryer My idea right now is to have an LLC owned by an American Corporation which is then owned by a Canadian Corporation so taxation moves through the American Corp because corporate tax is less there than Canada.

In general, it looks like this:Single-Entity OwnershipA project meets the definition of single-entity ownership when a single entity (the same individual, investor group, partnership, or corporation) owns more than the following total number of units in the project: projects with 5 to 20 units - 2 unitsprojects with 21 or more units - 20%https://www.fanniemae.com/content/guide/selling/b4...

That is very well known misconception inside the corporate finance world. 

There's not a lot of information out there from an employee's perspective on a 404c, but this appears to be a great option for the corporation to reduce liability from losses it's employees might experience while investing.

Or, join the American Association of Private Lenders and see their guidance.

Our building is not held in any corporate or LLC structure, so we just file a schedule E with our return.I was wondering if there was a way to take some of the income from the building and pay ourselves a nominal amount that we could report on our schedule C's using a 1099-misc?

I am currently full time corporate employee making good salary and contributing maximums to retirement accounts.