The S-corp and the LLC treated as an S-corp for tax purposes is a pass-through entity that is recognized by the IRS and does file a federal income tax return (Form 1020-S) separate and distinct from the taxpayer's personal tax return.  

Any other distinct things to know about unique to VA? 

It's bad enough that the city proper has 90 distinct neighborhoods, the rest of the county has 100 small municipalities, each with their own procedures and personnel in place.Also great to hear that you found good contractors to work with.

I read my last thread response and I think I added the distinction b/c some banks will consider the seller-carried equity in a "CLTV" calculation as a rider to their LTV underwriting.

If you have figured out a way to buy properties (and make a profit) with out needing to perform this important piece of DD, I'd pay for the information.If a house is sitting on the MLS and it gets no bites it doesn't mean it's bad and just means know one sees the potential you see.There is a very important distinction between everyone else not seeing value where it is, and you seeing value where it is not.

Not saying you won't find some gems, but you may be sending out a ton of direct mail just to get a small segment of homes.

You may want to move into another segment of the market?

That's the distinction you need to make.

The distinction is that 4 units or less is referred to as residential/small multifamily, and 5+ units is referred to as commercial multifamily.Here are the CO state guidelines for "Motels, Hotels, And Multi-Family Dwellings": https://www.sos.state.co.us/CCR/GenerateRulePdf.do?

@John Roberts: This is very gray transaction.. if you actually break the transaction apart (i.e. the sale of the property and the issuance of a loan) and have them as truly two distinct and separate transactions unrelated to each other, then you can do it.