I want to take this opportunity by qualifying for REP status.I have also been meaning to build 2 units in my backyard and put them on rent.

@Alex Schumer I see that your new to real estate - congrats in this life changing journey.  

Quote from @Jerry Zigounakis: This just in from proper insurance"Thank you for your interest in Proper Insurance® Due to strict brush/forest fire scrutiny, our program underwriters have declined your property coverage.

It's way easier when you have a turnover.My wife could manage this and she's hands off with the tenants. 

Purchase price: $55,000 Cash invested: $440,000 Currently under construction and pre-leased for $6,195/month, this 7-bedroom, 5-bathroom student rental in Clemson, SC, was built using investor cash and designed for high-end student living.

If he were to submit this, I'm fairly certain it would pass regardless of the consequences of doing so like for example much much higher sales tax in the 13-15% region.  

Quote from @Qais Attarwala: Hi everyone, Just wanted to start out by saying thank you to everyone in this really supportive community.

I'll be talking to my CPA about this later this month but wanted to see if anyone else has done this sort of thing.Thanks!

It looks like this offer never expires.

Hello everyone,      Hopefully this post isn't in the wrong forum.