If the permit wasn’t required, I wouldn’t have pursued the replacement at this time.

Many require that you keep funds separate from personal funds.

Leverage / down payment required will depend on if you're a U.S. citizen, Green card holder or if you have another immigration status. 

On public websites, I see some options to acquire a duplex in central Los Angeles under $550K which would require at least another $50K of work if I do not outsource most of the labor.

Hey BP Community,We all know real estate investing requires money, but not everyone starts with deep pockets.

There is a 30 year conventional loan product that only requires 5% down, which is great to use with this strategy.Are you focusing on investing in Bangor specifically?

I have some rentals that are condos that I love beecause they require nothing.

Give them a short, professional notice and move on.Second, I don't think a specific form is required in Massachusetts.

There are two requirements to claim REP status1) 750 Hours2) You spend more time on real estate than other activities such as your W-2 Job or BusinessYou want to work with a tax professional who will be able to advise you on what hours count and what hours do not count.Furthermore, the CPA may have a nice worksheet that you can use to help you document your hours.Best of luck!

I'll send you a note of what you should require of your GC.Keith