I realize there are risks associated with this due to some gray areas in the tax code, but we feel confident in the process and outcome.

I've definitely had my share of heartburn and adventure on my journey, but hey, those are just war stories to recount when I'm old and gray.

You get into a gray area when your entire business is based on that approach because those activities require a license.

The reason a lot of HML won't loan to individuals because it could be considered a gray area, and would be up to the judge whether they applied!

I purchased the property and painted it a more neutral gray, fixed some of the warn down baseboards, replaced some really ugly window fixtures and stained the kitchen cabinets a natural wood color (all in around $4k of work some self performed some contracted).

I would love to hear what you have found out and whether you have determined if it is legal, a gray area, or illegal without acquiring license. 

We have one property in Manayunk but are interested in investing in others, like potentially Grays Ferry. 

Apparently it's a gray area, not 4 and under which is classified as residential and not 6+, which is considered commercial.

As for paint I recommend painting the entire interior agreeable gray with white trim as it's the most popular color scheme in the US right now. 

My field expertise is exoskeletons and humanoids.