Property Seller is Selling a FREE & CLEAR Investment property for $500KThe BUYER is doing a 1031 Exchange and will SELL this property and have those funds held by a QI - Qualified Intermediary and now they wish to purchase a REPLACEMENT Property for $1,000,000 where THEY put down $500K in funds to be held by the QI towards the purchase of the Replacement Property and the Property Seller SELLING to THEM provides owner financing for the $500K balance due them- We believe this property Seller then can elect to SELL their Seller Finance Purchase Money 1st lien Mortgage and Note if they desire to have additional cashBUT What about this twist ?

@Annette Margolis ask your CPA if they know and can explain the difference between The De Minimis Safe Harbor Election, The Tangible Property Regulations, The Safe Harbor for Routine Maintenance, and The Safe Harbor Election for Small Taxpayers.

If deficiencies exist, the contractor will have to add them to their scope of work in conjunction with any elective items you may select.

This is a bit technical, but normally repairs under 2,500 can be expensed under a special election.

When the bonus election is chosen, then the portion of the property's value with a useful life of 20 years or less can be taken as a passive loss in the year the property is purchased.Keep in mind, some property types will produce more bonus depreciation than others.

We elected to be treated as a single-member LLC for tax purposes so we didn't have to do a 1065.   

Total cost is around $5,000.NCH offered the following idea: Revocable Living Trust which owns a WY LLC for Property Management (S Election), another WY LLC for stock trading, and another WY LLC Disregarded (that holds the assets).

An  LLC with no elections legally can't pay the owner a salary. 

If your LLC has you as the only member and has not elected to be taxed as a partnership or sub S then it is what the IRS calls a disregarded entity.  

Now that the election is over, and with rates rising some, I'm seeing a huge amount of pent up demand (multiple offers in December was not a common occurrence last year).