It is like the stickers you see on trucks that say not responsible for rocks etc. hitting other vehicles.

One of the upstairs bedrooms had this sticker on the wall.In the basement and the garage it appears that they sprayed white paint of some sort on all the surfaces. 

I had really bad sticker shock with this property when we reached out to contractors for basic repairs and decided to take it all on myself, which was a big mistake in hindsight since I missed the Spring buying fever and we lost some of the value on the property.

Knocked it sideways and ripped the sticker off of our door saying that we have a video recording in progress.

  :)  Tax-ignorant clowns like Grant Cardone (who amazingly holds an accounting degree) love to "teach" bogus "tax-saving loopholes" - like put a business sticker on your car to make it deductible.You car is only deductible if it is actually used for a legitimate business, as @Lance Lvovsky explained. 

You probably know this already but just for the sake of anyone reading this thread who doesn't... regarding electrical: that 70A panel will need to be replaced, especially if it's Federal Pacific Electric (FPE) , Zinsco, GTE-Sylvania, Westinghouse, or contains any stab-loc breakers (usually with with red stickers) which fail to trip and are prone to starting fires. 70A is not enough for modern power consumption as it is, 100A is now the minimum per code, or even better upgrade to 150A or even 200A service since you have AC.

Have Cousin Earl's LLC buy the first one all cash for an inflated price, basically do anything humanly possible to get the first batch sold for as much as possible in nominal sticker price.

There's more to a home's value than sticker price, detail this home's value-adds to your family and lifestyle. 

I remember as a young kid putting stickers and stuff on the back of my bedroom door....

@Ryan McGrath I think your first concern is to make sure it's a legal rooming house or to understand the steps that it will take to make it one - which I'll bet would include things like extra egresses and a sprinkler system.One incident / phone call / police visit where word gets back to the building inspector and you might find a big red "VIOLATION" sticker on your front door.Next, I'd want to do some forensic accounting.