If the tenant causes $800 in damages, I file a simple, online claim with Obligo and they pay me the $800 with no questions asked, then they pull the $800 from the Tenant's bank account or credit card.All my applicants are given a score and that score determines how big of a deposit they pay.

Each SDIRA account holder needs to file valuation report of "total value of the LLC"... do they both say 300K?

We could only get a loan if we purchased with an LLC - this was an increased cost because with four partners we had to get a lawyer involved to help us file the LLC and operating agreementFees were a lot higher, for example, the commercial lender required an LLC doc reviewIf we can get the rehab done soon enough, we'll be able to refinance in as little as 3 months because commercial loans have much shorter seasoning requirementsOtherwise, the loan underwriting and process was very similar to a hard money lender. 9.375% rate with 2 points + some closing fees. 

Depending on how your borrower responds could go longer if they file bankruptcy or challenged the debt in court. have you made any contact with the borrower to see if he or she is willing to execute a deed in lieu?

The owner has filed for bankruptcy every year, filed divorce twice and sued the bank for mail fraud. 

As per the permits I am sure we will need to file with the bathrooms, walls, and backyard fence.

Well- filing your taxes incorrectly isn't really allowed. 

Joe -- my point was there is no authoritative guidance that supports the position of your CPAs.Don't worry about whether failure-to-file a 1099 makes a payment non-deductible. 

I've done a bunch of mortgages for the formerly incarcerated; we don't document it anywhere in the loan file (so there's no good stats on it), but they disclose it to me in the form of "hey Chris I have a record, I did [crime here], is that going to be a problem?"

However be mindful you are also required in this case to file an informational return, Form 5472.