If we are classified as dealers under the tax code, it seems any profit a partner takes home would be taxed at their ordinary income rate vs. capital gains tax if we were considered investors?

Will this require the septic tank to be replaced with a larger one to meet code?

I know, this is after July 1st.Calling the assessor's office really doesn't get you anywhere because the ones you are talking to are not lawyers or have any authority to change (and zero motivation to do so).See Property Tax Code, Sec. 32.01.

The details are controlled by Section 483 of the Internal Revenue Code.https://www.law.cornell.edu/uscode/text/26/483Some bloggers, YouTubers, gurus etc. mistakenly refer to two other sections of the tax code, so let me address this confusion.Section 7872, also described in IRS Publication 550 as "below-market loans."

HD for example has a program where they will set up shelving, provide labeled/bar-coded bins, stock specific items that you choose, and check / restock to specified levels periodically.

See if there's a way to fit one of those in there also.You will also have to be careful of minimum square footage per bedroom space permitted in your jurisdiction by building code, as well as minimum window size for egress purposes in case of a fire.

the property is located at zip code 44102 in Cuyahoga County.

Maybe you need to fork over a few thousand to run a market study in the zip codes you really like?

And did this realtor violate any codes?

I believe the Iowa market would have similar code requirements.