Quote from @Alex Brown: Seeking recommendations for a CPA or Tax Strategist who specializes in RE and REPS Status.This post should help:https://www.biggerpockets.com/forums/51/topics/1222774-expla...And none of us is allowed to offer you our services as long as this post is in the tax forum.

The information contained in this post is not to be relied upon.

Adjust cost basis - This is the purchase price, plus capital improvements, minus depreciation.

Glad to have you as a part of this awesome community, Simon! 

I would give it some time for lenders to catch up on this type of property.

Now here is some advice many will disagree with me on but I firmly committed to this:  Most people that use a VA loan shouldn't.  

The property next door to this one I own 50/50 and went out to cut down a tree that our tenants said would fall on the neighbors home.

@Sidney Johnson just make sure that your finances and relationship are in a good place to attack this from a position of strength.

Correct, and thank you, I am still trying to figure out how to use this website.Quote from @Jaycee Greene: Quote from @Chris Wang: Does anyone have a good software or tool specifically for sending quotes and estimates, I have heard good things about mortgage coach but its expensiveHey @Chris Wang, welcome to the BP Forum!

Feel free to reach out about how we can help you scale.