Better yet, establish a mgt entity or at least a dba and get this stuff out of your personal name.

Also, if you are doing tear downs and or large additions n higher end markets, you can’t use the same template each time for everything, but you can for some items (paint colors for instance).It is efficient to have name, description, item numbers, etc on a spreadsheet of items you typically buy which makes ordering materials quick and easy.

Assuming that I will be unable to finance the purchase with an LLC, is there a benefit to having the checks deposited into a bank account in the name of an LLC? 

It's just not as sweet in PA. 

My name is Mike and have been “lurking” around Bigger Pockets for about a month now.

The name of the game here is capital appreciation.That brings me to the No part of the answer.

Hello, i am trying to buy a house from an elderly person but having alot of trouble the deed is not in hes name but hes fathers name and he has not been alive for 150 years i went to speak with an attorney and he told me it would cost around 2,500 just in fees for paper work  and we would have to visit hes office 3 times to get everything done as i do not have that much time to scedule appointments in advance to see him and i do not even know the elderlys schedule of availability  is this the only way or is there any other options around this? 

If you see "CPA" or "Enrolled Agent" or "Accountant" next to the person's name - you just found one of us.

Some of my research led me to believe that perhaps the joint purchase by a married couple (tax entity A) would disqualify me from the exchange, because the new purchase would be solely in my name (potentially tax entity B).2.

can I get it in my name then let it "season" for 6 months and do a cashout refi and pay him off?