Seems to be essentially a private money partnerThanks

Its a beautiful spot - but developing anything there is extremely hard to do as you are essentially building on solid rock, completely off-grid in most places there is no country electric, sewer, water or internet access for most of the island... and being in construction I'm guessing the island is plagued by a lack of skilled workers as it is everywhere.

However, there are also those who would say that if you yourself are an independent contractor and file those taxes on a Schedule C, you are most assuredly "in business" and that you are required to issue 1099s, even though the reporting mechanism is essentially the same as the first example above.So what to do?

An LLC is essentially taxed the same.Putting the deed under the LLC is something I don't like.

I know how to change the oil in my car, but I pay someone to do it because I want the service.

@Brian Eastman On a side note - and just thinking outside the box here - but would it be advantageous (if even possible) to convert an Employer Sponsored 401(k) into a SD Roth IRA/401(k), build up your portfolio tax free and, when ready to cash out, simply take the 10% penalty, essentially avoiding short/long term capital gains tax which is higher?

This is essentially a tool to get the younger generation to move from renting to buying by offering a tax deduction.

It essentially allows you opt into anything under the sun from stocks, to private debt or to other real estate operators / syndicates that are not created under Delaware statutory trusts. 

Additionally, you are essentially holding onto the government's money for 30 years before you have to pay them.

I too specialize in financial valuations, more specific to Oil & Gas companies.