The IRS requires a written plan document for the 401k to be qualified and you'll want that to be IRS approved.

This has long been an IRS rule, and will continue long after the Mortgage Forgiveness Debt Relief Act expires.

You can also do the same with a NV company that files a lien on one of the properties because NV companies do not reveal owners or partners.If you have sole member LLCs create a management corporation so your liability is limited because LLCs are disregarded entity for the IRS and in FL they are also disregarded for the Courts.For real estate property, FL protects your homestead for the its value.

Hello everyone, I have a situation that I'm hopping to get some advise.

While state tax laws can vary and there are some planning aspects to implementing a plan in each state, the majority of your planning will be done to the IRS Code and not the the state tax laws.  

Three years down the road I find that the expenses involved are substantial, like keeping the accounts, IRS filing, legal fees (can only be represented by attorney), blah blah blah, all adding to become a good chunk and chipping away at my rental income.Were I to have them under personal name, many expenses would become substantially less.My dumb question: Which way makes more economical sense: LLC or personal?

These are the basics:If you flip one or two properties per year, you are considered an investor under IRS rules.

According to a recent article published on NYT, over 90% of Americans strongly agree that it is a civic duty to pay your maximum taxes, and many find that trying to dcrease your taxes is unethical.Personally, I want to decrease my tax burden, and pay the IRS what is legally required of me.I am new to investing, and want to understand the taxes.

I know the IRS has a certain time frame (I think 90 days) to procure the property.

The IRS rules prohibit you from pledging your assets as security for the IRA's debt.The primary players who operate in all 50 states are North American Savings Bank and First Western Federal Savings.They may not be that interested in a property that needs significant repair, but with a low enough LTV, that may be possible.The use of non-recourse debt financing will expose your IRA to UDFI taxation on the percentage of the income that is attributed to the borrowed funds.