Yes. You create an LLC. Sell your house to the LLC. Have the LLC rent the house to yourself. Then have the LLC rack up massive amounts of business debt improving the house. Have the LLC declare bankruptcy. Have a family member offer to buy the house out of bankruptcy to settle with the lenders. Buy house back from family member. Rinse and repeat.
Essentially the steps used by many owners of cheap hotels.
By me, it’s done without the LLC on residential homes by large families.
When I rent myself out to my employer I receive checks I can cash at a bank.
Maybe this person should consider a similar manpower rental scheme if they want money.
Here’s another fun SovCit bodycam video for everyone to enjoy:
Entitled Driver Takes Police on Chase When She Doesn’t Get Her Way
Can’t watch it due to moronic AI dubbing.
It happens when the dvd logo bounces in the corner…
Can I just generate income by loopholing the system? /s
This loophole is actually workable though.
DO tell.
