According to the Pennsylvania Landlord Tenant Act of 1951, Section 250.201:Real property, including any personal property thereon, may be leased for a term of not more than three years by a landlord or his agent to a tenant or his agent, by oral or written contract or agreement.Source: https://casetext.com/statute/pennsylvania-statutes/statutes-unconsolidated/title-68-ps-real-and-personal-property/chapter-8-landlord-and-tenant/landlord-and-tenant-act-of-1951/article-ii-creation-of-leases-statute-of-frauds-mortgaging-of-leaseholds/section-250201-leases-for-not-more-than-three-yearsI’d consult with a local landlord-tenant attorney in your state and confirm, but it seems pretty clear cut. 

I am currently reading Brandon Turner's book The Book on Rental Property Investing and in one of the chapters he says how banks will not usually give loans to entities such as an LLC or if I try to transfer a property from my name to an LLC the bank might call in the loan.

Their Philly chapter is very active.

@Joe Vahedi Every project I've done with recently added units has had some level of difficulty with appraisals - I have had to go out of my way to prove that the additional unit is permitted and compliant with zoning in order to qualify it with the underwriter and the income from it.Here's Fannie Mae's guidance on it: https://selling-guide.fanniemae.com/Selling-Guide/Origination-thru-Closing/Subpart-B4-Underwriting-Property/Chapter-B4-1-Appraisal-Requirements/Section-B4-1-3-Appraisal-Report-Assessment/1736875861/B4-1-3-05-Improvements-Section-of-the-Appraisal-Report-10-24-2016.htm#Accessory.20UnitsLenders and underwriters can speak to the details better than I can, but I would be VERY cautious about assuming a building with an unpermitted unit (even if typical for the neighborhood) would appraise with that unit included. 

Yes I got a killer deal, but I helped a family turn the page into a new chapter of their life with my own knowledge and creativity.

The chapter and verse citation is Treasury Regs. §1.1031(k)-1(c)(1) (last sentence) (property that is acquired before the end of the exchange period is deemed to be identified).Just to make sure that I had not lost my mind during the night, I quickly reached out to verify this with our two outside tax attorneys and both agreed. 

(I’m 6 chapters into the IRC book and am studying other codes cause I can’t take hackjobs)

@Justin GottusoOur local chapter of the women’s council of realtors just put on an adu event.

(b) Any person convicted of a violation of any provision of this chapter shall be punished for that violation by a fine of not more than $1,000.00, or by imprisonment of not more than 180 days, or by both such fine and imprisonment.

I gave up a lot to pursue this chapter in my life alot of sacrifices made, I'm in this for the long hall and won't be going back to that W2 life if I can help it!