Never was the Fashion District formerly the Galleria Mall described as Chinatown until the Sixers announced plans for their stadium.

The steps you described mirror the steps I’ve taken the past 7-8 months since I jumped in.

It was on MLS described as “Investors’ Dream”.

Sometimes, the address describes a house, but the auctioned parcel is for basically half of the address which is split into two separate lots (one with a house and the other without one). 

What you’re describing, often called Residential Assisted Living (RAL), can definitely be a lucrative and rewarding strategy if done correctly.

You’d want to consult with a CPA to see which option aligns better with your tax strategy, especially given your other business expenses.PS: Fun fact—Bobcat is a brand name, but it’s often used to describe any compact excavator.

Three parts to the sauce for what you are describing...1.

Any recommendations of CPA that are familiar with that type of scenario I described above?

Some of the things you have described sounded like the structural integrity of the home could be compromised so it might be more then cosmetic things.

First of all - most people (including real estate investors) are lazy and will always gravitate towards promises of quick returns / passive income promises.But also - what you are describing is something that AirDNA does extremely well and automated - it can be a little pricy, but way way more effective and accurate to do this with that tool - highly recommended