Robert Perea-Martinez
"Dealer" classification while doing Lease Option Assignments?
Hey all, quick question. When doing lease option assignments or when assigning subject-to contracts, are those situations in which you'd have to worry about the "dealer" classification tax-wise? I know it can be a com...
Timothy Key
New business - what tax classification is best?
So we just recently got an LLC. We have rental properties. Just trying to figure out which classification would be the best. Any information would be great!
Steve Hiltabiddle
Private Lending - Business or Personal loan classification
I have an interesting lending opportunity that I have some questions on. Hoping to get some feedback.
Owner is an older gentleman who has moved out of the subject property and is now living elsewhere. Now that he is...
Byron Law
Classification of student rental by-the-room
How would a house that is rented out by the room be classified? Would it be a single family structure or a multi-family structure?Scenario: I wish to procure a lot near a university and build a house that would be ren...
David Zinn
Advice talking to appraiser - removing C5 classification
Hi all,This is actually my first post, so greetings! I am in Newport News, VA.I have my first SFH under contract. It is an REO and HUD will not make any repairs. The problem is the appraiser, siting mold growth on the...
Yuliany W.
LLC Classification: Partnership, Corporation, or S Corporation?
Hi,
I would like to get your thoughts on this. I recently created an LLC to own my future real estate properties and I also just applied for an EIN. What is the best classification for an LLC which purpose is to own ...
Steve Velez
Changing Property Classification (Apt to Residential multiunit)
I was looking to invest in a multiunit rehab property and I noticed that the listing had mixed messages that it was a 4 vs 6 unit property. So I looked it up on the country property records and noticed that it is cla...
Jeff Wittig
Dealer classification when flipping??? First time flip
Hello everyone. So my father and I decided to buy a property together to flip in Spokane Valley, WA. This will be a short term flip and should be completed in 2-3 months. Doing some research shows that with short term...
Nahid Alipour
Land classification in ADU law in CA
Question for my fellow Californian, I have single-family attached home or townhome that want to convert my attached garage to a two-story ADU but the city is telling me I can not build the 2story ADU and I can only co...
John Moksnes
Personal vs. Investment Property IRS Designation/Classification
I am looking to turn my personal property into an investment property and then 1031 exchange into a multi-family home. How long do I have to rent out the personal property (do I have to move out or purely rent a room?...