I recently ran across a similar court case where the IRS took issue with this (thought I think the facts are slightly different).If it's a single member LLC, what business activity code would you choose on Schedule C when you report the income?

A bunch of real estate people stretch the truth to get a sale and have to choose to be honest to the homeowner about what they are doing.Another choice could be fix and flip but can take more creativity to get a loan depending on how much money you have.  

It is a little harder to get comps on these units as i do not have a large pool to choose from for comparing.  

IMO that's the price of doing business.If the company rep can't guide you to figure out what you should buy, but just sending you deals to choose from, they need more training before they can help you.

@Bernie HuckesteinThink of the IRA-owned LLC as being like a "fund" owned by your IRA, where you are the fund manager.As the manager of the LLC, you can choose to open one or more financial accounts in the name of the LLC at a bank, credit union or brokerage house of your choosing.  

Welcome to the club Justus Bantz the BP community will treat you well if you choose to take advantage of the free info on this site.

But you only need 1 year of tax returns for a conventional loan in most circumstances but many banks choose to put an extra requirement to ask for 2 since it will limit their risk.  

Talk to 2-3 before choosing and have a good GC contract to hold them to their estimate without overages and with time constraints as a GC will often quote 2 months on a project and take 4 costing you big $ with hard money.

I would suggest choosing the location wisely in Atlanta.

If I choose to sell, and use a 1031 exchange, my $1,400,000 will have grown to over $4 million net.