Be sure to consult with a qualified tax professional to guide you through this and to help you understand the tax consequences in your particular situation. 3) You don't go to a broker to setup a self-directed IRA.

@Kirsten MillikenNot a lawyer here, so all disclaimers apply (not legal advice, you should consult an actual attorney, you know ... )Like @Eric DeNardo said, you can go to the Colorado Secretary of State's website, and use their checklist to set it up online. 

I do a fair amount of financial consulting; I formerly was a Series 7 registered representative.We see ourselves as asset fiduciaries more than property managers per se; I don’t need to make a killing off my clients.  

Or any other expertise could be consulted to start this project ?

Expecting to get accurate answers to complex legal questions on a public forum so you can safe the $275 consulting fee of experienced legal counsel 10.

If this is a very angry person you might also consult a lawyer on your options should they threaten you personally. 

Hi Savannah, you should reach out to the permit and zoning offices and double check with them on this as they will be be able to consult you on what is allowed and isn't allowed.

They can provide firsthand advice and potential solutions.SummaryLegal and Financial Consultation: Get professional advice from a real estate attorney and financial advisor.Negotiation with the City and Lender: Try to negotiate terms that provide relief or feasible solutions for compliance and loan terms.Exploring Financial Options: Consider new financing, partnerships, and investment opportunities to raise the necessary capital.Community and Industry Support: Leverage the experience and advice of others in the real estate community.Each step should be carefully considered, and professional advice tailored to your friend’s specific situation is crucial.

Hey Mike, did you consult with the city before purchasing to make sure adding bedrooms would be acceptable?

I still need to consult an attorney to see what the laws are St.