Courtney, working as a licensed GC I have done this many , many times but if you take it from me it is easier and more aesthetically pleasing and useful to simpley have plans drawn up , approved for building permits, and build a new third bedroom.

My inside source says that your area of the country is the free-est and is beautiful.

It's likely that the cost may outweigh the benefits with respect to a cost segregation on a property as small as 4-units but maybe not - it's certainly still an option.To answer your question, yes, you can claim depreciation on the 3 rental units even if you used an FHA loan to purchase the 4-plex.That's the beauty of house hacking and depreciation :)

Little did I know the next time I visited him the house was turned into a penthouse suite in the heart of beautiful Polanco, Mexico D.F.

The beauty of double deposit escrow is that you can use ANY currency as payment, including US Dollars.

OR2)Hey beautiful super sexy amazing such a lovely butt you have pretty seller...Imagine I am a flipper.

I am looking at a beautiful 4 bedroom 2 bathroom home with finished basement near a University I would like to rent out for Student housing. 2 miles from a train station, 5 blocks from the University entrance.

I'm great at money/math/analysis (my day job, senior analyst with 14 years exp), and my wife is a very good creative with an eye for design/aesthetics. 

One block is beautiful, safe, clean, old early 1900's colonials and victorians, and LITERALLY one block away there's gunfire because two gang members got into a disagreement about something. 

I looked at your listing on Zillow and have to say it looks beautiful in the pictures.