The land was a separate all cash purchase.On top of that- I call GC and email every week.

Hello All, i came across this  college town property - it is a value add opportunity. 14 Unit Complex - 12  2bed/1bath   &  2  1bed/1bath         * Separate electric and water meters.

Hey @Tony Hoffer I am helping my brother who is currently in escrow on a multi-family in Edgewater, which is 2-family on record, yet there are clearly 3 habitable, separate units in the building.

If you were to parcel out one of the rooms as a legit ADU, then you could possibly lease the whole house and lease the ADU separately and count rental income from both (75% of gross rent for the house, 50% of gross rent for the ADU).

My assumptions based off research is I will be able to deduct 1/2 of all allowable expenses based off the ADU square footage (My understanding of that list below)  1/2 Mortgage Interest (Not principle) 1/2 Utilities 1/2 Property Taxes 1/2 Insurance (assuming I don't have separate ADU insurance)  1/2 general house maintenance (depending on the issue and if it's related to the ADU)  1/2 Depreciation (Home value, not land divided by 27.5)  KEY QUESTION: If my mortgage (PITI) is $5400, and all of those ADU deductions equal $3800 monthly, and my ADU income is $1800 monthly, am I allowed to pay the difference in "deductions" from my real estate business income? 

I talked with the City of Columbia Planning office and they said I can split the property into 2 separate lots and by doing so I can circumvent rezoning into commercial.

Do I really have to do a separate management contract for each individual building?

You can separate the PM and contracting issue, but it looks like they aren't doing anything on either.

If you're thinking of turning the shed into its own unit, it would require some serious upgrades—like adding a separate electrical panel, sewer, and water connections.

Now, I manually export CC and bank statements into CSV files and then separate each transaction where it needs to go.