I don't know if the property was originally built as a 2 bedroom and somewhere along the lines another bedroom was added but not recorded for whatever reason.I had to file revised plans for my own property when I found it was not in accordance with county records and the changes would have to be approved.

Window AC is not the best because the property has the original windows, and most window units aren't made for historic windows with storms over them.I want to preserve the character of the property, so smaller units mounted in the ceiling will be the least noticeable.

Both options are Credit Unions - no points, no origination fee1.

Originations pre-pandemic are likely fine if the LTV at origination was reasonable.  

You could then create a series LLC with each property held in child LLCs under a parent LLC.

His unit got more attention and inquiries, but funny enough, the renter he ended up signing had found his original free listing weeks earlier and only called back because the timing was right.

The formula for your taxable amount is the difference between your net sale (contract price minus closing costs) and your adjusted cost basis (original purchase price plus capital improvements minus depreciation). 

@Gagandeep SinghYou might want to follow the "Deep Dive" series we're doing on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspots investors usually consider: https://www.biggerpockets.com/member-blogs/3094/99854-deep-dive-into-metro-detroit-cities-ecorseOur analysis is a template you can follow for any city.

They were all making money on this transaction, and likely not being transparent with the original owner. 

That means you make 2k in origination and then 11k/12 = $916/month.Let's say they hold it for 5 months = $4,580 + $2,000 origination = $6,580 return on 100k so about a 6.58% return and your risk for that return is 100k, cause the deal you back can go sideways.There's a much safer way to make a better return.