Consider utilizing a corporation and a 401k for matching contributions to decrease some of that taxable income.

You would prob do great with some "correctly done" financing under your wings.

I'll make a correction to the statement so it isn't so confusing.

Please don't quote me :)If this is correct, however, I was wondering if this was a regional stipulation?

@Arthur Banks,You are correct.

You could call it any sort of space you want, but the issue comes back to it being an illegal unit to occupy and therefore liable to be able to get you a "red tag" code violation meaning you'd have fines and have to correct the situation.

A lot of this information can be found relatively easy, and your real estate agent (if you selected on correctly.. you want one who owns their own rental properties) can be a great help.I do cover a lot of topics on my blog, www.intendhomes.com, but there is a lot of good resources here as well.

I am gathering the lease is signed by all three together and I am thinking they are jointly responsible correct?

I totally agree 65th Center is okay area.If I recall correctly 65th Center is surround by a lot of small businesses.( stores, activities, beauty and barber shops, etc )Most family that would move into this apartment building would be looking for Wauwatosa education for their children.Just my two cents

Even if a property was a stinker when they bought it in the wrong cycle they have the power to hold on until the cycle gets high enough to drop for close to full value.I would just be cordial and say " Hello, I noticed your property at XXXX address shows you are the owner is that correct??""