Either way, the best method to analyze what is driving the loss to lease numbers is by looking at recently leased up units.

If the numbers are correct on this (and it looks pretty promising), you could probably put in a new septic and still be ahead by a lot so don't let it hold you up.

You're correct.

The main factor for me, if I try to correct the tax records, it might end up getting into higher tax bracket  and it may not be attractive investment anymore, but the big question I have is, will the city/county put it into higher tax bracket if we increase number of rooms and dont have to increase sq ft size at the tax records?

Hey fellow BP members,I have this question that have been nagging me.I understand that the best practice is register the entity in the State that you are buying the property in rather than go through some method advised online where you form the entity in popular States like Nevada, Wyoming or Delaware etc..

(Make sure you turn on the Class Feature in the Preference Section of QuickBooks).When you set up your properties as a class, and you invoice your Guests for the rental term, you will choose that vacation rental from the class feature of the Invoice.If you have repairs or expenses for each vacation rental, you will write a check and choose the correct vacation rental from the class column on the check. 

I am preparing to submit my first NC PACES Act (Crowdfunding) offering and am curious if anyone has used this method for raising money.

The correction is coming at some point.

I want to make sure everything is done correctly, especially the tax end of it.

I tried editing it a few times and I typed it correctly but this site, for some reason, jumbled what I typed so I apologize for that!