For this scenario, let's say the home we currently live in is worth $240k, the current warehouse rental is worth $350k, and the upcoming warehouse will be worth $300k.The new home price would be somewhere around $400k so I would like to have around $100k to use towards a deposit, and then once we get in, then we sell our current home and take that $240k and put it towards the new home (probably as a refinance to get the best rate/payment).I currently don't have a loan on the current warehouse mainly because I wasn't sure of any loan programs that I would qualify for at the time I bought it. 

For this scenario, let's say the home we currently live in is worth $240k, the current warehouse rental is worth $350k, and the upcoming warehouse will be worth $300k.The new home price would be somewhere around $400k so I would like to have around $100k to use towards a deposit, and then once we get in, then we sell our current home and take that $240k and put it towards the new home (probably as a refinance to get the best rate/payment).I currently don't have a loan on the current warehouse mainly because I wasn't sure of any loan programs that I would qualify for at the time I bought it.

Are they worth buying into the program?  

Either way, the fire has been lit and we are actively getting involved in the REI world and meeting other investors and are ready to just get in the game.

This trade or business requirement can be particularly difficult for rental properties to meet and is usually based on the extent of the taxpayer's involvement in the rental activity.

@Maxton JohnsonIt really depends on what real estate activity you are trying to be involved in.It also depends on what your goals are.It is true that for a NY LLC to be established that it needs to have its information placed in 2 ads for 6 weeks.

Yes, through my Mortgage Broker sources, consisting of Banks and Mortgage Lenders, are offering I/O payment options as well as Hard Money sources.The Stated Income ALT loan programs for Florida are offering the I/O payment options as well.And to those who turn their nose up at I/O loans, when is the last time you made an extra payment on your Non-tax deductible car loan?

I am a huge advocate for constantly educating myself through books, videos, seminars, and programs not just for real estate but for personal development and sell for film.

I have put together an inventory list of the entire house (online program called encircle-highly recommend it!)

Selling a big property here and a mistake can cost us over 1 million dollars.There are partners involved and LLC’s and trusts so we do need someone knowledgeable.We don’t know too many people in Florida so if someone knows very well the tax laws/IRS regulations, Please leave your phone no/email and I will gladly contact you so we can discuss details.