Im gonna search this thread to see if anyone can make a good recommendation.brent Coombs, Thank you as well, I could not agree more, Im gonna start with one deal work it under my LLC, as I grow I will make the necessary adjustments to the business as needed.

Thought I would share a success story regarding getting an appraised value adjusted with success. 

@Byron BohlsenI make all my tenants get renters insurance per the lease paragraph and  I tell them: " file the claim and have the adjuster check the door for damage as well. " Renters insurance is about $150 per year. 

To keep it as a SFR, we would save on a 2-story porch ($18k) as well as another kitchen ($12k) and a few other needs for multi unit.We could keep it as a 2 unit, but then we have to create a new wall to separate the units again, adjust the main staircase, do the 2 story porch along with a 2nd flr HVAC, dual water heaters & electrical, kitchen and maybe move and/or add a wall.

Yes, I believe you can indeed have them manually stamped as returned- be sure to also get a receipt of payment.

What that means is that if my modified adjusted gross income (AGI) on my tax return is less than $150k I can deduct some or all of the losses up to $25k.

@Philip Mullinax first if you need to evict someone from a unit you are buying the price needs to be adjusted for that. 

What I quoted above is straight from the underwriting manual for VA loans current with this posting. 

Thanks Tim.My insurance company said the damages to my neighbors unit will be covered under my insurance policy and there is no deductible to be paid by me.All he needs to do is send in pictures and an estimate for repairs.Since my insurance company is handling the claim, there is no need for an adjuster to come out.

HELOCs do have lower closing costs but the rate is adjustable and it changes to a different product after 10 years.