How do mobile home parks generate such large first-year deductions?
A $10M land-lease park can produce a $4M first-year deduction on $3M down — and a GP who signed the note can be allocated part of it with nothing invested.
Should my management fee and my promote go to the same entity?
Fees are earned income. A promote is a reallocation of the fund's own income. Put them in the same entity and you lose capital gain treatment on the promote.
What documentation does the IRS want to prove real estate professional hours?
The regulation doesn't strictly require a daily log — but the Tax Court routinely rejects reconstructions. Here's what documentation actually survives an audit.
What is a 1031 exchange, and why can't I 1031 into a fund?
You can't 1031 into a fund — §1031 requires real property, and a fund interest is a partnership interest. Here are the structures that actually work.
How should I structure my real estate fund for tax efficiency?
The complete tax structure for a real estate fund: manager vs GP, waterfall design, depreciation allocations, UBTI blockers and multistate filing.
When should I convert my LLC to an S corporation?
An S corp saves self-employment tax on fee income once you clear roughly $60K–$80K net. It also blocks debt basis — so it must never hold your ownership interests.
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