Basic license is the easiest one to get (It isn't "easy", but it is "Easier" than getting a commercial license.)... maybe you should think twice about hiring a guy who doesn't bring the professional chops to the table himself.

hate to give this place up because it's a one of a kind property in a very desirable area and I'm thinking it could do well as a VRBO.In a nutshell, it's a 4 Bed, 3 Bath home on a little over 2 acres with:Indoor Pool and Spa with Retractable Roof.Separate but connected Diner / Malt Shop with Fridge, TV and Stereo.Huge Game Room off said Diner.The Game Room is actually a oversize 4 car garage, but it's fully finished, fully insulated, has it's own central heat and air and a full bathroom.Prior owner used this portion of the garages as a showroom for his car collection, we use it as a huge Gameroom.This gameroom has a 65" HD TV, Stereo system, Regulation Pool Table, Professional Quality Fooseball Table, Professional Quality Ping Pong Table and a low end Air Hockey table in it.House also has a 3 car attached garage and 4 more garage bays in addition to the 4 bay garage area we use as a gameroom.There is also a horse barn on the property, but we use that just for storage.Home is near major highways, major shopping, dining, entertainment etc. in the city of Lucas which is North of Dallas.I've seen VRBO homes in Allen that are in the mid to upper 100's per night that look like they are doing fine - I'm basing that on pulling up their calendar and seeing the days they have booked into the future.

See Table 1-4 on page 17 in IRS Publication 590 for the rollovers permitted between various types of plans.

We have mass government corruption and planners that often have their heads up their butts, but things are getting better here... due in no small part to private investors seeing the potential and putting their money on the table.

We'll just get a bigger table!

As for option 2, using the garage example,I imagined that I would create 2 lines on the form 4562 for the same physical asset, but that each line item would have its own 'date placed in service' and each would be placed at 100% 'investment' use percentage, and each would depreciate independently of one another, each on its own time table (i.e., both at 27.5 years, but that each asset was placed in service at different times).

I wouldn't even THINK of cutting them in on my investing deals unless they're bringing something to the table that's needed to get the deal done.Reconciling the two is not an issue as I simply make sure I don't break any laws related to my duties as a licensed agent (or any laws period, for that matter).

At any point I can create an "accountant's copy" of my QB, send it to my CPA via email, he can massage anything that looks out of sorts, send the changed copy back to me by email, and then I can get those changes into my QB.In Quickbooks, I generate my Jan 1 reports to see who gets sent a 1099 (I pick up 1099 blank forms at the local IRS office and write out the 1099 by hand).Newer versions of Quickbooks seem to support lots more than what I am doing too.

If any of you happen to fly in around the same time, the offer to split a cab, towncar or limo to the hotel is still on the table.

What I would suggest you do it really try to work on the other investors to show them how much money is being left on the table.