Your situation is a little more complex than most people and I highly suggest you consult an attorney. 

We had the same thought process when we started A Blind Pig.

Im trained enough myself at this point in QBO, but my bookeeper still does the more complex entries (Loans, capital balances, reconciliation, etc) I just do the data entries for expenses. 

We also own an accounting/payroll firm and have a lot of MHPs, residential communities and apartment complexes as clients and have seen this happen a few times. 

If you need help with the process, you can contact Consolidated Civil Enforcement - they have a ton of experience helping landlords through the legal process.

Having a group of friends living in an apartment complex creates a sense of community and reduces turnover.

I'm new to real estate investing in general but excited to learn about all the complexities, intricacies, and varieties. 

Italians like to avoid taxes thus they don’t necessarily go through the permit process.  

I realizing the duplex conversion strategy is more complex I probably wouldn't try it on my first property, just want to get a sense of what's possible in the Chattanooga market :) Thanks!

Partner with a Real Estate Tax SpecialistThe tax code is complex, and mistakes can be costly.