You will be exempt from 1/4th of the gain up to the limits of the sec 121 exclusion assuming that all units are identical and your accountant set up the depreciation schedules with those equal allocations.2.

I think any of those should be okay but I am not giving legal or accounting advice.I don't see any reason you would need to have a separate LLC and anyone is okay with carrying a note.

@Walter Diaz, it reinforces what Account Closed was saying.

Curious how you all have you accounts set up.

Account Closed:I do it all the time.

Days of the week are of little importance any more unless I have to work with others that are corporate...lawyers, accountants etc.

PM me if you'd like me to review your account or if you'd like to talk over the numbers that you've seen so far.

Is it going to be some super amazing all encompassing cloud based awesomeness for Pro accounts only?

They would be paying tax on interest they aren't actually collecting.I would strongly recommend you and the grandparents have a discussion with an accountant before doing anything.

Originally posted by Account Closed:@Ben Leybovich instead of being a smart azz why don't you tell me what to be realistic on instead of a smirk response.