Since the owner needs to pay your attorneys fees (essentially limited by statute, so can be estimated) in connection with a redemption, all of that math should be part of the planning.

With larger projects come bigger budgets, and tracking your cash flow becomes essential for profitability.

Clear communication and legal safeguards are essential for a successful partnership.

They argue that the first few years maintenance would be insignificant since the properties are renovated, and so you're essentially stashing that money away for the future maintenance needs. 

----------------------------------------------------------------------------------------------------------------I have the cost list for the classes but they state they are tailored to meAll together @ retail - $29,976 without Asset Protection/Entity Structuring - $17,976 Money School Essentials (Virtual 3 day plus 1 year recordings plus access to library)$1891PMC Premier - 1497/PMC Accelerator coaching -2997$5,494PMC RE Performance Bus Tour (12 week RE Coaching) - 7997/VIP Money Tank - 1297 (EACH)$10,591Asset Protection/Entity Structuring $12,000Success Team Tuition - $20,488 WITHOUT ASSET - $12,488 Money School Essentials( Live Virtual 3 day plus 1 year recordings and access to library)includedPMC Premier - 997/ PMC Accelerator coaching - 2497$3,494BUS TOUR/PMC RE 12 week on Demand - 6997Money Tank -2 TICKETS - 997 EACH$8,991API LAW (asset protection/entity/trust)$8,000-------------------------------------------------------------------------------------------------------------------------This has all been over the phone or email. 

My concern is whether the city could deny permits for these modifications, such as removing walls or converting a garage, or if they are mainly just concerned with safety and habitability.

It is essentially a cave with only that one means of egress.

The activity is essentially no longer subject to the passive activity rules, so even if your modified AGI exceeds $150,000, you can take the suspended losses in year of sale.

Having a team in place is essential to long-distance investing.

Same as you wouldn't only invest in one stock (or the stock market), diversifying allows you a bit of a safety net in case one goes down.With real estate a lot of people focus on cash flow, but remember tenants are paying down your mortgage for you and helping you build equity and over time (eg 5-10 years) your house will also appreciate in value.