Over his long career, a certain late tax guru (a rather charming fellow, by the way) sold an impressive number of his seminars and printed materials where he taught investors that they could escape the dealer status once and for all with a simple trick: "document" your intention of NOT being a dealer.

at least you have tenants that shower ... when one of ours cracked the tub we used a fibre glass patch & resin on it until we could replace it completely...worked like a charm.

It works like a charm and keeps the bills low!

IF the property fulfills my structural requirements, IF my inspector and/or I don't find additional areas of concern, IF the neighborhood checks out.The rest of it all "charming older building," "non-disclosure agreement," "very rare for rental buildings to be sold publicly," that all sounds like FOMO-chasing, Jay.

At a press conference last Thursday, where Alexandria Park was called the “biggest tiny-home village in the state,” city leaders milled about this mini-neighborhood, which has been laid out with the precision of a suburban subdivision, with a dozen or so homes painted in neon yellow, hot pink, and red diagonal stripes to create a disarmingly charming effect.

In the end, it turned out great and has a lot of charm.

There will need to be structural beams 10 feet in from either side where the flat part of the roof meets the ends of the gabled part, but I would love to do like a shiplap vaulted ceiling - I think it would really add to the 'cabin in the woods' charm. 

You're running a business - not a charm school. 

The goal is to house-hack for a few years before turning it into a two-unit rental.Viewed in that light, here are the results of the deal analysis when financing 95% of the $381,000 purchase price: If the appraisal comes up short (which is likely), here are the results considering the max $25,000 cash over appraisal it took to win the bid: Rent-to-price: 0.58%Property details:Single-family home with mother-in-law in basement2 bed, 1 bath, 1 kitchen up and down2 car garageShared utilitiesShared heating, cooling, and water heaterShared foyer at rear entrance, no front-entrance for downstairsSingle mailboxR-2 zone (multi-family)Built in 1933Nice upstairs with loads of historic charm, livable downstairsNeeds ~$5,000 in updatesInspection found no glaring issues, but it does have a mixture of new wiring and some ungrounded knob-and-tube (added insurance costs)New roof, furnace, and a/c in last 5 yearsWater heater 14 years old5 off-street parking spots (only really usable by one unit)Not ideal, but workable and a decent return which we're grateful for in this market.My biggest concern is being unable to use it as we intend.

Austin has charm and it's a great tourist city.