@Tiana Lazard check with your local municipality, but unlikely you can claim homestead unless it is still your legal address - and you want tenants getting your mail.

Can be turned into a legal 6 family building.

Legal or not if you put the wrong tenants inn your property with out proper (VETTING) it's your fault and if your real estate agent agent puts in a bad tenant it's also your fault.

The best part is the free CD is nothing more than a bunch of vague suggestions about how you can make all this money in real estate and vague bragging sessions about how he has been around so long and wants to give you all his knowledge before he croaks (paraphrased) Someday I will be completely immune to the crooks attempts at separating me from my hard earned money.

Happy you joined the party.. how soon do you plan to start crunching numbers on a potential deal?

@Brian Kantor late to the party, but the $4k/year quote definitely seems excessive and hope you did better with Proper.

The real prohibitive costs come from the legal, compliance, and reporting requirements of registering a security.

These associations often provide networking opportunities, legal guidance, and best practices to enhance your rental business.

Is there any legal notice i should provide to the tenant as per the laws? 

The contract was a simple 3 page one and I wrote this in.Also, it is a single family being rented as a rooming house (which is technically not legal here).