Does this affect tax filing at all ?

You start to see some interesting things when you 'join' this against the city Assessor file, in regards to how many actual units the Assessor is saying exists, and the number of units being licensed through the city.It also provides a road map for violations, and the 'tiers' to work off of, changes of ownership...

I heard someone mention something about filing taxes separately..

You can always file a DBA, if you decide to keep the existing LLC. 

I understand stuff happens, so I had my pm speak with her and let her know if this continues I will have to file a notice to pay or quite . she wrote me a check this month, come to find out the funds were never in her account and her checked bounced!

@Justin Carter - I uploaded it https://www.biggerpockets.com/files/user/chicagobrie

Also, if im purchasing through owner finance, is there any difference in the way the form if filed out other than making sure I state that or will be wrapped? 

If I collect last month's rent and then a tenant becomes delinquent in payments, must the last month's rent be used before an eviction can be filed?

The best approach is to report and file as property held for rental/investment, document your strategy for switching, and move forward. for more about you can inbox me

If you had to use an alternative income documentation loan, or another type of non-QM loan that allows some other qualification such as shorter time from foreclosure or bankruptcy, then having a DTI over 43% or over 45% can affect interest rate.