Thank you Jason, but since I live in NY, do I need to do anything extra paperwork wise or tax wise?

My worry is that it is almost end of the month and he still didnt do anything at all on the project.What are my options if he comes on May 1st and tells that he has no money or that he will pay in installments?

Looks like 1031 might be an option.

I know it is too late at this point but should you find yourself in this position in the future I would utilize the 1031 exchange option.

I was wondering what would be my better option to get a down payment for my next property.

Pet fees are extra income! 

Hey @Amir J Reichental, There are small pros and cons to this: Home Address:Pros:Privacy: Providing your home address keeps your personal information private, as it's not tied directly to your business.Convenience: If you're already receiving mail and other communications at your home address, it may be more convenient to keep everything in one place.Cons:Risk: Using your home address exposes it to potential risks associated with the property owned by the LLC, such as lawsuits or creditors targeting your personal assets.Tax Implications: Depending on your jurisdiction, using your home address could have tax implications, especially if you're claiming any tax benefits or deductions related to the property.LLC Address:Pros:Asset Protection: Using your LLC address helps separate your personal assets from your business assets, providing an extra layer of liability protection.Business Image: Using the LLC address for business-related documents can help establish credibility and professionalism for your company.Cons:Public Record: LLC addresses are often part of public records, which means they may be more accessible to anyone who wants to find information about your business.Mail Handling: If you don't have a physical presence at the LLC address, you'll need to ensure mail forwarding or a reliable method of receiving important documents.Ultimately, the decision depends on your specific circumstances and priorities.

Dividing it up into 17 acre lots would be an option as well.

You have an extra selling point when you turn it around.Though, I would love to see arguments against it.

Mom and pop NY brokerages would be a better option, but they will have no training or systems, but will hold your license while you look.