Hey Dina, The extensive repairs discovered during inspection could ultimately provide a tax benefit by increasing the depreciable basis of the property.

Making this particular bedroom bigger has three benefits: 1) bigger primary as I add ~100 sqft, 2) no need to change anything else except for face lift, 3) the garage is exactly below this bedroom and it's a single car garage, with this addition, it'll be two car tandem garage. 

You get the benefits of being close to all the recreation without the heavy snowfall. 

, etc.) then it really was, in order (I guess) to induce a loan or some other “benefit”.  

Thats pretty much exactly what im asking however I don't see why there would be any issue splitting the down payment and mortgage of a 4-unit multi family with someone else especially when you can both realize the full sec 121 benefit, the mortgage and property tax deductions, ect. 

Higher cash flow comes in later years as rents in tge market go up and you benefit from your low interest rate.

And, you don't have to be a real estate professional to take advantage of this benefit.

Mine are all long term holds because that is the benefit of S8.Good Luck. 

On tax benefits, last year we had a tax loss on our MTR business that lowered our personal taxes by an amount equal to 20.8% of our MTR gross rental income.

You get 3 BIG benefits from doing this.