The other thing that was nice is that you can pay the loan back as soon as possible but they didn't allow extra payments. 

While the heater issue adds extra stress, addressing it promptly will protect you from further fines and penalties.

I would rent out an extra room, basement and yep, deal with a part time roommate.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

Thank you for sharing your experience here; it’s a good reminder to be extra careful when dealing with properties like this.This post has definitely made me realize how important it is to double-check zoning and property classifications before closing on a deal.

Quote from @Chris Seveney: Quote from @Jason Monaco: I listened to the webinar....more bad news. supposedly the company that was handling the pay off of the loan sold more assets than they should have and kept the extra moneys made on the sales.

Now, if you were NOT a "real estate professional" you would only be able to:grab the rental income ($100k) and subtract that from the rental expenses/depreciation ($117k), now that extra $17k loss can only be used to offset future rental income, not the W-2 income and dividends and interest income. 

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

We kept extra bags in the bottom of the can under the current trash bag.

Look to see how you can earn extra money while also cutting your spending.