Currious what the accountants say to do for what amounts to double income.  My property manager is obligated to 1099 me for the rent he collected and passed through.  How do I account for this double income since in S...

We have gone through the necessary steps of creating an LLC, Quit Claiming the property into the LLC but I still have a few lingering questions.  

Here's the situation.. we found a great home which can easily become a 4 bed 4 bath close enough to a college so we can rent out two rooms easily.. we have had a job for two years but the problem is that the house is located an hour away from where we work and our lender says this will not look good to the underwriters especially since we don't make so much there (can't claim tips).

.$65k in 2009 --> 170,000 in 2016$655K + $209k + $170 = $1,034,000 compare with the $1.25M claimed by the OP.

I mentioned this to them and now they are threatening to take me to small claims court as well as call the state of Utah for over a dozen violations (no idea what if these are made up - they won't tell me).  

You may need to sue, but small claims you can handle yourself without a lawyer.

We haven't had any claims so I can't speak to paying out but they have been easy to work with.

For a site that claims 65,000 houses sold and an easy way to buy and sell houses, they leave a LOT to be desired.

I know an idiot that tried to pull a bogus car break in claim and had to tuck his tail between his legs when the insurance company politely asked for a copy of the original purchase receipt (for the supposedly stolen items from the car).. whoops.

Choose a A rated company that will stand behind you in the event of a claim or lawsuit.