@Danny OndikCan't you just open an LLC and then have it designated as an S corp for tax purposes?

Eddie,Most condo associations have coverage typically referred to as "bare-walls", "walls-in / original design", or "all-inclusive" style coverage per the governing docs of the association.

Grand rising BP Fam, who here has used Invelo to source "off-market" deals?

But anyway, my main goal is to support my KC client's interest there we will do fine on return on dollars, and we won't risk but a hundred grand at any one time so if we get stung it will not be life altering.

I've been designing and building other people's dream investments for most of that time.

I design and PM for a general contractor and want to develop and study the numbers as much as possible.

I'm getting stuck on putting tgoether a postcard design.

Do keep in mind that if they stop paying, you'll end up spending several grand to foreclose.The real key is whether or not FHA will even allow this.

The difference would something like that between a mechanic and an automotive design engineer.I don't think the law "requires" you to take every expense or deduction, it allows you to do so.

With that in mind, coupled with my well paying "fall back" job, it is a much less risky proposition for them than if some Joe Schmoe came and knocked on their door asking for 20 grand or something.