Andre,First off congrats on making the move out of CA and into a more accomodatinng state like CO in terms of Taxes, Home prices, and future to build a sucessful REI portfolio. 

@Felicia Richardson just a note for the future. 

You’re going to need about $500,000 invested today to cover say 30 years of retirement in the future.  

with the current market micro & macro trends, our market is poised to continue to go up for the foreseeable future.

It’s awesome that you’re taking steps toward buying in an area you love and planning for the future—whether it’s as a second home or a long-term investment for your kids, this is a meaningful goal.

So a lot of investment, resources, and time, for a very little value add project when our resources are already constrained, that has nothing to do with taxes or accounting, and then in the future the attorneys will be doing the work whenever a new entity is set up or there is a change of ownership. 

In essence, they hand-hold you through on how to do two things:  First, find and tie up a select vacant commercial property, then Second get a prospective tenant who would agree to move into that subject property at a future date. 

I am going to save your list for future reference.

Clarity here avoids future disputes.Business Strategy: Align on your goals—flipping vs. rentals, risk tolerance, and timelines.

So even if they allow today, I think you put yourself at risk that they don't allow in the near futures.