Thrive Living, in partnership with city officials, is building 800 apartments above a Costco store.

Your situation is still unfolding.While this recent official warning is not about your specific type of investment, any investment loss victim with potential for a legal action should consider it: https://www.ic3.gov/Media/Y2024/PSA240624.Thank you for trying to warn others with your post.

Hey Gavin, You don’t need to complete the separation by January 1st, 2025, to eventually write off the rental portion of your closing costs and other expenses, but you can only start deducting them once the rental portion of the property is officially "in service," meaning ready for tenants and actively marketed.

I did find verbiage but from another jurisdiction "Unavailable for rent means a unit whose owner has filed with the code official a statement signed under penalty of perjury that such unit is not offered or available for rent as a rental unit and that prior to offering or making the unit available as a rental unit, the owner will apply for a Residential Rental Business License and comply with any applicable administrative regulations adopted pursuant to this chapter...."

Include all your evidence and any relevant details about the property.Appraisal Process: If your request is approved, it might impact future appraisals positively, as the property will be officially recognized as a 3-bedroom.Risks: While there’s generally little risk in disputing the classification, it’s important to ensure that all changes are accurately documented.

Also, whats the current use of the property as I spoke to Inglewood planning officials to inquire about doing an ADU or additional unit on a R2 lot, with the existing use being a duplex, and they gave me a hard no to both.  

These guys have not provided us with a single official report of what's in the fund and how it's doing besides jsut saying we're stopping distributions and this is a 5 year play now.

Even when I still had 3 I used Zillow.I list my property on Zillow for rent, I use the Zillow application process, I use their form leases and  collect payment all through Zillow.With only a couple rentals, it did everything I needed it to do, and combined with a spreadsheet or Quickbooks online, if you want to be a little more official, it does not take much work.  

If things got heavy I would tell them to follow the lease and send their complaint officially in writing, and I will respond accordingly,  usually that ended it.

Finally, arrange for a formal closing and record the documents with the county to make everything official.