Be sure to have the records corrected.

If so, what techniques have you used?  

Still in PA, one can discriminate based upon source of income, but not in Philadelphia.Am I correct in that if source of income is protected, then one could not reject based upon occupation?

If they do have a lien on it, this would be an unsecure lien correct?

Also, if we close on another home before the one year mark, but spend the remaining time renovating the home, and our current property is our actual primary residence during the renovation time, that would be on the up and up, correct?

It sounds to me like you acted correctly.

It will be the evening of Wed, Feb 19th in Oakland (ignore date in title - the other dates in posting are correct.)

I believe all the math has been done correctly but would love any input you have. the cap and cash looks to be low but I should be able to sell the house for 145,000 no problem after renovations.

Just to protect yourself, not just from your partner, but say a contractor gets hurt, if the LLC isn't filed correctly with an accurate Operating Agreement, you are LIABLE.Further, the key to an operating agreement is to clearly detail ownership, responsibilities, how to handle the bookkeeping, and also should detail how to remove a partner should one person want to leave.These are absolutely key.

Under an LLC am I correct in understanding that you don’t get taxed on the profits that the company generates (and that we’d reinvested into the asset anyway) and only on cash that is extracted from the company as either salary/benefits or dividends?