I have proposed three options to them. 1 - Buy it outright at a steep discount. 2 - Buy it for a higher price with seller financing. or 3 - rent from them and turn around and rent it out to a long term renter.

Meaning a person can be both a dealer and investor.To determine if the taxpayer is a dealer three questions must be answered:(a) What is the taxpayer's trade or business?

I plan to use $200 to purchase two to three properties.

@Adrienne Binder I mostly agree with Melvin.

In my case, most of my close friends are what I would instead call middle-class to upper-middle class.They work well-paid jobs (mostly in the tech industry) and make very respectable salaries, but...that income is in all these people's cases frittered away on paying for the upkeep of an expensive home in an expensive neighborhood, multiple late-model cars, and bad investments (most typically actively-managed target-end-date pension funds with high expense ratios).I have three millionaire friends and family from this pool of friends, all people who made their money investing in small businesses.

I have a nice and well-maintained three-family in a desirable area.

Apparently I lucked out and three blocks away they're going to start a big development project that includes a ton of retail, office, and residential spaces.

I've asked support three times to look into it and add it back.

Our roi is just above break even over a three year period.

Is it best to have two separate LLCs or start one together ( all three of us).