What are your thoughts on the deal structure below?

When looking at an LLC, or any entity structuring, there are two angles to consider: tax benefits and asset protection.I frequently see asset protection lawyers recommend an LLC for each rental property owned for liability purposes.

Being a wholeslaer is having a business.You are in the business of finding and buying land/contracts for a short duration and then immediately selling them.One typical expense for a wholesaler is all the advertising costs to find motivated sellers.

For example, a quiet neighborhood that used to be a busy factory area might have hidden issues, like pollution.

Myself, significant other, and my close friend/business partner have been renovating his personal residence for the past few months with the intention of renting it soon.

Just like with a residential mortgage would they need business tax returns as well for add back purposes?

My thought was also to just rent the lot itself as it's located on a pretty busy lake. 

The length of holding only matters AFTER you already determined it was a capital transaction, as opposed to a flipping business.Step 1: business or investment?

After many problems over the last couple years, I really want to just let the situation take its course and get a new business owner in there.

I never give out my contractors name for renovations because I keep him busy enough and he also has many other projects.