The Qualified Opportunity Zone Program added to the Federal tax code by the Tax Cuts and Jobs Act on December 22, 2017 gave investors precisely that, however it wasn't until until June 14, 2018, that the Treasury department certified zones in all 50 states, Washington, D.C., and U.S. territories, and it then took until October 19th 2018 for the IRS to release the proposed regulation taxpayers were in need of for direction.

Based on the definitions I've found in my local code, a "dwelling unit" must have ALL of cooking, sanitation, sleeping, and living space provisions.

I'm planning on turning an illegal in-law unit (currently far from code and a shoddy job) into a legal one.

Smith, who was notified by a code-enforcement officer that she violated the municipal code with the operation, contends that she was not running a business, and did not offer her guests breakfast or any other amenities besides a bed to sleep in.

(check your local building codes regarding this)Good Luck!

However, the collective of codes, case law, guidelines, etc. do a pretty solid job of outlining it.I'm not going to pluck out each of the connecting portions of Title 17, Business Occupations and Professions, Annotated Code of Maryland and COMAR 09.11 for you, but, by all means, have at it.

I also need to research the concept a bit more w/r to how it would play north of the 49th ... at first blush, Canadian tax code appear a little vague around the treatment financing / capitalized leases - particularly where it pertains to Capital Cost Allowance (CCA .. aka depreciation) and who gets to claim/deduct what.I also suspect our banks/lenders to be a little frosty to the idea of financing with an NNN lease as collateral ... but with mortgage / property financing terms being shorter (0.5-10yrs) here, you would be inclined to think it should be seen as low risk provided the lease term extends beyond the financing?

Very few people (even CPAs) fully understand the inner-workings of the code.

I am pretty lenient when it comes to repairs and maintenance as long is it is up to city code and in writing.

Leak in pipes, gas leaks, the electrical work isn't to code.