Their answer was: No, they won't do a heloc on a rental property unless it's classified as a second home.

We are going thru this right now by an imposter with a fake website and phone number.Do yourself a favor, Adrian, and stay of the web when looking for lenders. 

Rent Check's web pages are a little dated but the reports work just fine.

So rather than it being classified as passive it is adjusting the rental income to be active instead.

Per IRS, An MMLLC classified as a partnership will become a disregarded entity(SMLLC) on the date it has only one member.Rev.

Alternatively, if you are looking for mortgage sales or tax sales, you can monitor the Royal Gazette for the province (Ontario Gazette in London) and the local newspaper classifieds for Notices of Sale.

I’m a web designer / developer, just let me know if you have any questions.

Its a web free search.

What I've come to understand, and would like to confirm, is the following, plus some follow-up questions:If I own and directly manage a short term rental, renting it for an average of 7 day periods or less, it can be classified as non-passive income/loss and would be reported on a Schedule E (since there are no additional "substantial services" provided along with the rental).

There may be older smaller multi-family buildings owned by one owner but there aren't complexes that could be classified as C class with onsite manager.