https://www.biggerpockets.com/forums/51-tax-legal-issues-con...

In order to legally use the basement as a bedroom for you or someone else, the basement needs to have egress windows with a ladder to get out.

However when I would do work outs it could be a challenge for private second holders to understand the pickle they were in.All the more reason every investor should obtain qualified legal consultation before investing directly into notes 

Just like you, she can do RE as a side gig and learn a lot more while she keeps her own nest egg going and her lendability strong with a regular job.You should loop her into a major document with all of the properties and all of the profit and loss and go through them one by one and talk about whether to sell or keep, and also base it on geography for her and your collective choice of management.

I have always loved them, they keep it clean, u can even ask the military to directly transfer monies into your account without the hassle of asking tenants if they get late, only downfall is they are legally allowed to leave the house anytime based upon their transfer status - still worth every bit!

If you're unable to visit the area, video walkthroughs and detailed photo documentation are essential.

Different banks will have different lending guidelines, legal lending limits, fees etc.

You will need two years of your 1099 documented income to qualify for a loan as a 1099 employee, both years of taxes complete for them to formally pre-approve you most likely.You need to bank as much money as possible.

I am not going to say there is a best lending model, but brokers legally can not be paid as much as IMB's, and I tend to be cheaper in more situation than not when comparing a loan estimate from an actual lender. 

Directly investing in real property investments, whether property, notes, tax liens, or leases requires a THOROUGH understanding of all LEGAL aspects concerning real estate law in general and the investment in particular.It’s IMPOSSIBLE for someone who hasn’t accumulated either a legal education in real estate law or 20 years active experience to have the knowledge and understanding of legal aspects sufficient to reduce legal risk to an acceptable level when investing directly in tax liens, notes or real property.