Scarlett, to put it simply, if you’re running something like a hotel, motel, or similar business where you provide substantial personal services, the IRS doesn’t see that as a rental activity.

I refer my clients to someone specific who works quickly and doesn't hold up closing, which is also very important. 

The IRS doesn’t apply UBIT to Solo 401(k) accounts, including Roth subaccounts, so that part of your plan checks out.As for the condo, you don’t necessarily need an LLC just to make this work.

Spending money on improvements increases your cost basis, which lowers your taxable gain, but it doesn’t change the exchange rules.

I'd guess the subsurface is solid rock or such hardpan it just doesn't percolate at all, or they're right on a lake, or they were just too cheap to put them in. 

I've been told to have my wife claim REPS but she's a stay at home mom and not involved in our real estate activities at all so that doesn't really seem feasible. 

Works in CA, TX, GA, FL, AZ doesn't matter location.If you would like a copy of the spreadsheet so you can calculate your potential profit when you do Subject Tos, and how much money you should be working with, send me a DM with your email address (don’t post it here, that’s crazy to do ;-) ) and I’ll send you the spread sheet.

It turns out that it doesn't auto-renew, so there's no need to cancel.

The fact that it doesn't really cash flow shouldn't be worth the possible headache.

Not a simple question because what if there's cost over runs that were your fault or probably doesn't sell.