I provided them office space telephones and the absolute necessity of having lexus nexus..

There are three main requirements for REPS: 1) 750 hour rule 2) Greater than half of professional time rule3) Material participationHere’s a great article that walks through the necessities for your spouse to obtain REPS status.Do you have questions on the ways to benefit from a cost segregation study without personally obtaining REPS status?

However, I have a few concerns:Pros:Living condition: 1400 sqft → 1700 sqft with some boutique featuresThe rental market seems good in this area.Another property is added to my existing real estate portfolio, which currently includes two other properties.Cons:Interest rate: 7% - No guarantee of decreasing the rate, which means there might be no opportunity for refinancing in the future.The current home is too new to be rented out.People often say not to buy property in Chicago due to high taxes and low appreciation.There’s no necessity of moving since I have a decent primary home.Any professional advice would be helpful. 

It's a luxury, not a necessity like heat, at least here.

I see why many of us on BP want to keep admin work to a minimum and reduce the necessity of extra entities and extra bank accounts, but these are things that the big players do. 

A large part of this was necessity; interest rates of 12% - 18% IF available doesn’t leave much room for profit UNLESS property can be transacted with leverage at a lower rate.

This proactive approach helps maintain the property’s value and keeps tenants happy.Informed Decision-Making: When you have a good grasp of how things work, you’re better equipped to evaluate the quality and necessity of work done by contractors.

I guess you would have no complaint if you still meet your target profit margins.Sometimes you take control out of necessity.

If there is no access, it sounds perhaps like an "easement by necessity" might be neededPerhaps @Tom Gimer may have some input.

Out of courtesy and necessity to our investor clients we keep a handy investor focused lender cheat sheet categorized by mortgage specialities.