Your responses have certainly confirmed my suspicions, that I've simply been handed a giant sh!

She is the interior designer and I am the numbers/operations guy who intend to put our skills to test in purchasing buy-and-hold properties.We just put an offer in on a place in Bremerton.

The boards I am on are almost all electronic (votes, docs, etc.) with final drafts of resolutions being memorialzied in a resolution book by the designated manager. email for drafts and edits (no need for paper), financials via PDF (no paper), etc.So I'd have a different first step - Identify why paper/printing can't be done electronically.

Most of my work is open book, negotiated design-build, that includes permiting as well.

Hopefully a CPA here will confirm (or correct) my answer.It is my understanding that closing costs go into the basis of your property.

The LLC being present is an investment structure.The manner in which the partner puts his funds in and the occupancy designation here will matter.

A borrower has equity of redemption up until the confirmation of sale by the clerk.

Flooring over 5 years. etc.Here is a chart of such items.Type of PropertyGeneral Depreciation SystemComputers and their peripheral equipment5 yearsOffice machinery, such as: Typewriters Calculators Copiers5 yearsAutomobiles5 yearsLight trucks5 yearsAppliances, such as: Stoves Refrigerators5 yearsCarpets5 yearsFurniture used in rental property5 yearsOffice furniture and equipment, such as: Desks Files7 yearsAny property that does not have a class life and that has not been designated by law as being in any other class7 yearsRoads15 yearsShrubbery15 yearsFences15 yearsResidential rental property (buildings or structures) and structural components such as furnaces, waterpipes, venting, etc.27.5 yearsAdditions and improvements, such as a new roofThe same recovery period as that of the property to which the addition or improvement is made, determined as if the property were placed in service at the same time as the addition or improvement.Property taxes go on Schedule A.

I called an confirmed and we're set.

This loan solution must be non-recourse and is designed for the purchase price of $50k, and loan amount of $32,500.