Then, the home appraised at $205,000 without counting any additional value for the basement space. 

Developing small units in small counts is not low cost development.  

Keep in mind, experience only counts if YOU are on title or an entity that you are part of is on title. 

Yes trump was probably seen as more pro business/real estate than Kamala but we also do not know yet what the past two years is going to cause in the next year or two as well as what other global and macro events can have a significant impact.

I can then take those figures and estimate for future deals based on size, room and bathroom count, etc. 

I would defintetaly be living on an island somewhere counting money. 

So researching properties to buy doesn't count unless you actually buy something -- and this isn't Amazon where I'm randomly buying things on a weekly basis.  

The equity will count towards the down payment once you move into the construction loan.  

If you rent the basement room to someone or market the house as a whole counting the basement as a bedroom and a fire breaks out and someone dies or is injured in the basement without an appropriate egress from the room you could be liable for all of that.   

Spending more than 100 hours and more than anyone else, or substantially all the time in the business.So if you own an STR and meet the test, you can set up a tax deduction machine.Some issues -- You have to count your time, and the time other people work in the biz (cleaning, maintenance, etc..)- If use the property more than 15 days or 10% of the time it becomes a residenceI suspect this is part of why the STR trend has picked up so greatly amongst professionals working in tech.