Also, here's a great article that describes the REPS status:https://www.aicpa-cima.com/resources/article/tax-rules-for-r...And another for the passive activity loss limitation that other mentioned:https://www.irs.gov/publications/p925

Here’s some suggestions for investors investing in non publicly traded securities1.

Unlike a traditional rental license, creating a shared housing facility requires city council approval and opens the project up to a public comment period, which means that you basically need to get neighborhood buy-in to operate the property.

When evaluating the deal, push for details on occupancy, lot rent, utility setup (public vs private), park-owned vs tenant-owned homes, expenses (including deferred maintenance), and any zoning or legal compliance issues.

Are you utilizing pay-for tools that let you search for off-market, pulling public records then cleaning for communities, or using well known applications to get your community picture? 

Check public records for the property to confirm this and their ownership.

Lastly, do not lie publicly and say that, "Many of our members have found significant success with our program, and we stand by its effectiveness."

*******************************************************************************This map, via Visual Capitalist's Pallavi Rao, shows the share of households in each state that reported receiving cash public assistance (also known as TANF, Temporary Assistance for Needy Families) or food assistance (also known as SNAP, Supplemental Nutrition Assistance Program) in 2023.Ranked: U.S.

Rehab costs: Prefer not to share on a public forum.Financing: Did a 25% down rehab loan that was at 9% and 2.5 points from a local bank.

This ensures they have all tradelines, inquiries, and public records.FICO® Mortgage Scores (Classic Models): Unlike consumer apps (Credit Karma, Experian app, etc.) that often show VantageScore, DSCR lenders rely on the classic FICO mortgage scoring models:Equifax Beacon® 5.0Experian®/Fair Isaac Risk Model v2TransUnion® FICO Risk Score 04Middle Score Method: Just like agency loans, DSCR lenders typically use the middle score of the three bureaus for qualification.