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).

As far as real-estate experience goes, I have bought two homes in my lifetime as personal residences and I am the president of our neighborhood's property owner's association. 

You will not find a true right of way deed until they elect to lay paving.