Nick Siegler with Porch Light Home Inspections.I use him primarily due to his attention to detail, leaving no stones unturned, and speedy efforts to get the report conducted and presented within 1-2 days of request!

DR can show you some light but that’s just it

Can you please throw some light on that.

@William Coet, there is a lot going on with this potential scenario and I want to second the other advice being given here -- tread very lightly with specific tax advice for specific transactions, especially with seller financing. 

Here's what the quote covers:- Conversion of 2 bedroom, 1 bath main house to 3 bedroom, 2 bath (~1040 sf footprint)- Demolition of existing walls (existing dining room wall, wall between kitchen and living, bathroom closet)- Finished Shell (Reframing opening to living room and kitchen, shifting openings for bathroom/bedroom, new walls at bathroom and dining, level - Replace all aluminum windows with fiberglass windows and screens- Upsizing plumbing, and relocating fixture locations as necessary- Upgrading electrical panels- Assume heat pump and ductless mini-split for heating and cooling- An allowance for kitchen appliances including combination range, hood, dishwasher, microwave, refrigerator, and washer/dryer- An allowance for mid-grade plumbing and lighting fixtures (Delta, Kohler, or equivalent)- Mid-grade plumbing and lighting fixtures (Delta, Kohler, or equivalent)- Ikea cabinets or equivalent with solid surface countertops, includes island- Assume solar system to be installed on the house including battery storageFor the garage ADU, the garage would need to be demoed and rebuilt, but we would benefit from building within the setback since the garage is on the property lines.

If during inspection it turns out to be a light repair, great--you've accounted for that. 

You can start with a turnkey that can use a light rehab to help you build a team and establish a foundation to then get into bigger projects.

What I'm seeing here is a really light rehab ($15K) that generates $60K in equity value, and then breakeven afterwards... with self-management. 

Can you shine some light on what exactly this may include? 

Hello, I am wondering if any real estate attorneys can please shed light on whether my current job status would qualify me as a "real estate professional".Specifically, my full-time job in which I work more than 750 hours a year is as a mechanical engineer for a engineering consulting company.