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

Good luck. haha i would run away from anyone self-proclaiming as "financial expert" with the expectation to "meet the guru / mentor/coach / master of all business" in his/her personal residence lol I have not google him yet but I bet he is taking picture in front of luxury house and driving sports car ?

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

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-...  

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

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

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

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

I haven't ran into an issue like this before especially if you followed all of the guidelines for it to be a legal bedroom such as bedroom size, entrance size, egress, closet, etc.

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.