With permit, benefits are 1) get depreciation and other tax write off benefits since it’s a permitted investment purpose ADU, 2) probably better for resell value, 3) have a separate address and don’t have to bother sorting out mails for our legal tenant, etc. without permit; benefits are 1) no hassle to get the permit, 2) no permit fees, 3) no tax on rental income (as it is more like a “roommate”)Has anyone gone through a similar situation before?

I wrote the above for informational purposes.

What happens if you buy the duplex with a conventional loan with the purpose to build an ADU to move in shortly afterwards?

This would allow us to have a clear bird-eye view of the various data in order to analyze and take decisions Second Point:I would prefer to manage it internally for confidentiality purposes.

I think I would probably talk to an attorney tbh these business purpose non regulated loans do not have rate locks that have to be honored legally.. they can and do change them unilaterally.. borrower accepts counters or declines and loan fails. 

For tax purposes, it’s about whether you pass the 750-hour rule, the 50% rule, and meet the material participation requirements.

I use Monarch for personal purposes, they use 3 aggregators, and I've had no problems staying connected to all my accounts. 

A property qualifies as Homestead for this exemption if an eligible owner files a Principal Residence Exemption (PRE): https://www.michigan.gov/taxes/0,4676,7-238-43535_43539-210891--,00.html#:~:text=Section%20211.7cc%20and%20211.7,purposes%20up%20to%2018%20mills.Many investors have gotten an ugly surprise when they bought a property that was a primary residence of the seller for the last 20 years.

The agreement stipulates:"The owners agree, that no water shall be used for commercial purpose, but only for their private domestic use including vegetable gardens and livestock maintenance."

Hi Guys hope your having a wonderful day im looking to Work for someone willing to teach i know alot already but You tube dont mean Squat i need hands on Experience with someone with Wisdom in this industry that can help me get my feet wet in a controlled environment and i think working for people that are already doing big things in real estate will help more than just going on your own Iron sharpens iron.