William,Obviously disregard my prior comment on how to shorten the wording, I had it in my mind that it was a residential lease.

PLEASE Disregard that last entry! 

These are typically disregarded entities for tax purposes as the LLC does not file it's own tax return and activities are reported on your own Sched E.  

If you plan to only engage as a landlord I recommend keeping the LLC taxed as a disregarded entity.

Depending on your area and your deal volume some people will want to call people back and others have enough deal flow to disregard the missed calls.

Notwithstanding the above comments (which I agree with), to answer your underlying question (disregarding the effect of depreciation and recapture):Gain = $31K - cost of sale (commissions etc) - any capital improvements made during ownership periodIncome each year = $19,200 (assuming zero vacancy, substitute with actual income collected) - interest (NOT principal) - taxes - insurance - utilities - maintenance - any other expenses

I know that If i received a yellow letter I would probably be more likely to disregard it if I knew it was just some service trying to get business from me.

Husband-wife LLC can be disregarded for tax purposes, and the flip reported directly on Schedule C (or Sch E if it was rented) of your personal joint tax return, without a separate tax return for the LLC.It can only get complicated if you and your wife file separately, or if you have some reason to file a separate tax return for your LLC.

They disregarded an entirely new HVAC system, fire suppression throughout, as well as new plumbing and electrical throughout.7.

In most cases, you should disregard broker provided cash flow projections entirely.