The way I read Rev Proc 2002-22 is that the IRS is willing to provide a private letter ruling ("PLR") for taxpayers with tenancy in common interest ("TIC interests") if they can meet the 15 or so requirements to basically prove that the TIC interests are in no shape or form partnership interests. 

the main benefit would be the trust transaction would be non-reported; however, the tax payments/insurance payments would reveal the presence of the LLCTalking to another attorney tomorrow.

The general is a rule allowing up to $25,000 of active participation(see below) rental real estate losses as a deduction against ordinary income.The taxpayer must make management decisions with regard to the property, have at least a 10% ownership share in the property, and the cannot be a limited partner.

This would mean that you will pay the tax but there are two things that happen.first by starting the exchange in 2014 but not accepting the proceeds until 2015 as a cash based tax payer that is when the gain occurs.  

I did try to check the online County Recorders website for tax payments etc but it doesn't show any owner names.

If the taxpayer (or its tenants or agents) refuses to deliver possession, then the investor must give written notice to vacate, wait six months, and then file an ejectment lawsuit.

I'm voting for life in prison -- it costs more taxpayer dollars to execute someone in this country than to keep them locked up for life...this guy isn't worth my tax dollars...

Technically you need to report the income when you receive it because you are a cash basis taxpayer.

However, you generally cannot deduct these expenses if the courses (1) qualify you for a new trade or business or (2) satisfy the minimum requirements for your current position.In fact, here's a great case you should read that covers the exact same thing you are talking about in which the taxpayer was audited and denied a $21k real estate education write-off: THOMAS J.

If you renovate old buildings (usually with a ton of tax payer funded redevelopment $$$) you are treated as a hero but if you rehab a home with your own money on the line and make a profit then you are some sort of opportunist that is hurting first time homebuyers.