[gtremper]

I have all my LendingClub funds in a Roth IRA so I don't have to deal with any of the tax loss/gains stuff. I've heard the tax accounting can get tricky in normal accounts, so I highly recommend putting your LendingClub funds in a tax-advantaged account.

As for filtering and stuff, you can you do your own underwriting(loan risk analysis) with the data lendingclub provides[1], or use https://www.nsrplatform.com, which has a nice GUI tool to explore the data with you're own filters. LendingClub has a JSON api, so you can an order executer for yourself. (Here's the remnants of the one I was working on https://github.com/gtremper/LoanInvestor. P2P-Picks was a 3rd party underwriter that isn't available anymore). I've noticed that the D and E loans tend to be the best balance of risk and return

Also, be aware that you'll need to continuously buy new notes as payments come in to your account, otherwise you'll build up cash rather quickly. That's why these auto-investing services are so useful. Its best to buy only $25(the minimum) per loan so you can spread your risk among as many notes as possible.

[1] https://www.lendingclub.com/info/download-data.action