This post does not create a CPA-Client relationship.

It's always ok to talk to a lender and agent to build relationships in advance.

C-corps often aren’t ideal due to double taxation (on both corporate and individual levels).This post does not create a CPA-Client relationship.

Operators already have relationships with the brokers and are much more likely to see an off market or "pocket listing". 

The way to handle it is to allocate expenses based on the percentage of the home’s square footage used for rental purposes.Here’s how it works:Calculate Rental Percentage: Add up the square footage of both the in-law suite and the rented room, then divide by the total square footage of the house.Apply This Percentage: Use this rental percentage to deduct a proportionate share of expenses like repairs, utilities, and mortgage interest.This post does not create a CPA-Client relationship.

That’s how you build meaningful relationships who will add real value.

The cost basis includes:Purchase Price: The amount you paid for the property.Renovation Costs: Add the cost of improvements and remodels that significantly enhance the property's value.Closing Costs: Certain closing costs related to acquiring the property (like title fees) can be added to the basis.You will then allocate the total cost basis between the land (which isn't depreciable) and the building (which is depreciable over 27.5 years for residential properties).If you're unsure about how to allocate between land and building, you can use the allocation percentage from your property tax records or get an appraisal.This post does not create a CPA-Client relationship.

Play the long game and build relationships with people without asking for their business.

They should be able to navigate both the tenant relationship and the bureaucratic processes smoothly.Feel free to reach out directly if you'd like more tailored resources or to discuss Detroit as a market.

I think that's a great idea and good way to start a good Landlord-Tenant relationship.