What’s the minimum a partner needs to do in an LLC (owning rental property) to be considered active enough to avoid it being labeled an investment security under the Howey Test?

We leave a bottle of water per guest & a little treat bag.

Don't be in a rush, do your homework, do your math all the way to cost of setup including a bottle opener, iron and new smoke detectors.

Adding the ability to run sensitivity analyses for ARV, rehab costs, or holding period can help flippers stress-test deals and make the tool valuable for regular use.

For landlords, understanding how to respond to suspected mold and how to educate tenants about prevention is essential to protecting both your investment and your reputation.Avoid Using the Word “Mold” PrematurelyWhen a tenant reports dark spots or moisture issues, it’s important not to refer to the substance as “mold” unless it has been professionally tested and confirmed by a certified mold inspector or remediator.Until testing is complete, landlords should refer to the issue as “black stains,” “discoloration,” or “moisture-related staining.”

.- No need to adjust formulas — it’s plug-and-play.I’m currently sharing the lite version with a handful of investors to get feedback before rolling out the full release.If you’d like to test it out (and help me refine it by providing feedback), feel free to reply here or message me directly.Question for the group: What features do you find most important in a deal analyzer?

.), pick your goal (BRRRR, rent-vs-sell, refinance test, etc.), and it returns a full underwriting breakdown:Base / downside / upside returnsP&L, DSCR, CoC, sensitivity tablesFlood + insurance risk for FloridaNext-step checklist and “what would change my mind” summaryIt uses conservative defaults (7.11% 30-yr @ 75% LTV, 5% vacancy, 3% expense growth, etc.) and calls out when you should check with a CPA, appraiser, or attorney.You can try it here on ChatGPT by searching for “BRRRR Brain” in the GPTs section.TRY IT OUT HERE!

@Andrew SteffensREPS has 2 primary tests.1) 750 hours and more than 50% of your working time.2) Material participation in your LTRs.Time that qualifies for material participation in your LTRs can also count toward time in the 750 hours and more than 50% of your working time test.The first test is generally more "inclusive" which could mean time being a realtor, property manager for others, etc. 

I have been having problems getting kicked off the system after writing a response so I just put one sentance up to test it .. still weird but worked.1. back ground check  no one with bad history.2. meet in person 99% of the time3. fly to the market review the projects they have done and are contimplating.4. some skin to start then we do true JV deals IE our money their work.

Scale only works if each asset meets the same bar.Model approachI built my own underwriting model, but many solid templates exist online now.Key focus areas• Purchase basis (true landed cost) vs comp set• Rehab scope and sensitivity• Rent comps and lease-up timing• OpEx realism (maintenance, turns, taxes, insurance, management)• Debt structure and stress tests• DSCR and breakeven occupancy• IRR, equity multiple, unlevered and levered yield• Market concentration vs diversification• Hold period assumptions• Refinancing and interest-rate exposure• Lease absorption• Downside stress tests (rent drops, tax increases, insurance shocks, rates, vacancy)How I use it• Every deal goes through base, downside, and worst-case underwriting.• Comps and cost assumptions get cross-checked across multiple sources.• I separate the “investor story” from “spreadsheet reality.”