https://www.biggerpockets.com/forums/51-tax-legal-issues-con...

And to any wondering, no, I don't loose a wink of sleep over using legal tax strategies. yes, I think those who can utilize it have earned it and don't owe a thing to anyone else.

Finally, your hunch is correct: when the syndication cycle closes, your past "free lunches" will have to be paid for, aka recapture.Here're some relevant posts from your favorite site:https://www.biggerpockets.com/forums/51/topics/839015-are-sy...https://www.biggerpockets.com/forums/51-tax-legal-issues-con...https://www.biggerpockets.com/blog/real-estate-professional-...  

I think you're not adding in closing costs to the PP, due diligence/reports/legal?

Looks like previous registrations were entered incorrectly and preferential rents were listed as legal rents.

ParcelNbr=2767600595 In the end I am going to find and work with legal counsel on this.

Quote from @Anthony Britto: Quote from @Jonathan Greene: You will need egress windows to legally have a bedroom down there.

There's plenty of regulation surrounding the STR industry, but it's perfectly legal and welcome here.

If you can't convert the whole place to a LTR, then let it go and find another place.Having said that, is the place split into 2 legal residences?

I have bought a few houses after reading the foreclosure notices in the legal section of the newspaper but mostly I find opportunities by just talking to people.