It sounds like a single family house where you will be living in the house(personal use).Therefore, you may not be getting the tax benefits you think you are.Consult an accountant.I am not sure why your sister would agree to this as well, she is losing $170,000 in this transaction and she faces the possibility of you increasing her rent.You also have to charge market rent or close to market rent or it is all deemed personal use.

Started working on the exercise above as well this morning.

Sure it does. but depending on who the celebrity is/was.....That's why so many little hotels, boarding houses, vacation rentals, etc..... feature this in their advertising.And in some cases, you will not get more money, but you will get more guests.A little while ago, I went to Tombstone AZ and stayed in 'The first boarding house in Tombstone'....really cool place but kinda small and, well....old feeling.

The contractor is responsible for paying their subs so it would be a breach of contract between flipper and his GC if it was written well. 

These are amazing ideas and what's great is your meetups would be a great place to ask these questions as well! 

Upon inspection the appraiser will see the crawl space and see it was a mobile home plus a HUD tag and public record.One of the requirements in mobile home financing is the property "Must" be on a concrete permanent foundation(in order to be real property) on top of that it requires concrete pillars, skirting and the "Well and Septic" dug and placed within legal distance from subject property.

There is well developed  case law that points to a guarantor having to receive a benefit in order for the lender to hold them accountable in the event of a default etc.

I also have a client in Turlock who could rec a good CPA up there as well.  

SFH under 200k, definitely exist. 300k for SMF as well.

Well I think he was planning to pay it but it wasn't long overdue so he certainly wasn't expecting a lien to be placed on the house one day prior to sale.