MINOR or MAJORMost counties in this area make a distinction between “minor” and “major” subdivisions.

What is the functional or legal distinction between an office that has a kitchen and bathroom and an apartment?

(I make the distinction between a city that allows Airbnb through an active law, and a city that allows it only through a lack of law prohibiting it.

You live in the basement, which is a separate and distinct dwelling unit (i.e. its own kitchen and rest room). 

Not sure about some of the other flavors mentioned above. 

It is important to make this distinction rather than lumping the entire state together.

If I were doing it all again here in Denver I wouldn't do it because the market is very tight and I wouldn't be sure that a deal I can find would be good enough to pay the loans and line my pockets.It's more about what fits your particular flavor of investing.

@Carlos Perez,The distinction between "apartment" and "condo" is usually based on the building.

I have a Bachelors degree in Business Administration with distinctions in Real Estate and Finance. 

It's not an LLC, no checkbook IRA, just good old boring SDIRA stuff, if there is such a thing.2) Separate from that, and distinctly different, I have formed an LLC (IEC Ventures) in which I will work with JV partners and private investors on other NPN's.