See you there Levi.

The one that gets me investing here is the excise transfer taxes which run about 1.7%.

@Levi T.

Some cities have "loud party ordinances" which allow the police department/city to levy fines against the occupant and/or property owner for nuisance type behavior. 

The tax applies to businesses engaged in wholesaling, retailing, or manufacturing industries, as well as those providing services (a barber shop for example).The tax is an excise tax, not an income tax.

I was informed by a RE agent awhile back that it just isn't legal to levy a fine on a tenant for running a party that got out of control and had police called in.

You can play all kinds of word games as far as this is or isn't violating the law based on loop holes, but at the end of the day you only get paid from a sale which seems like the kind of thing that you need a license for.Your fight is potentially against the state with a basically unlimited legal budget and they can levy multi million non dis-chargeable fines against you too.  

@Levi Forrest I'd be happy to help!

Levi T.Yeah the cheapest is to send comps.

@Bukka Levy Thanks very much for the info.