In the end I’ve learned a ton and it’s given me the confidence to pursue non turnkey as I continue to build relationships with people. 

Deducting expenses and considering an LLC or S-Corp structure might help manage taxes.This post does not create a CPA-Client relationship.

This project reaffirmed that smart, targeted renovations deliver excellent returns without overextending.

You risk tenant turnover in this situation but if you establish and nurture a relationship with the tenant you should be fine!

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

This post does not create a CPA-Client relationship.

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.

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". 

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