It's a pain in the butt, but at least it's a one time filing. 

“Please, Learn from My Pain”)Leases: Month-to-Month MagicStrangers are like boxes of chocolates—you never know when one’s going to melt all over your sofa.

Probably not, but I'd see what my CPA and attorneys have to say.Be a pain having tenants pay you twice too.Also, passive income is already treated pretty favorably after deductions such as depreciation.

Personally that would be a pain to maintain and do lol

@John Voychick As a fellow out-of-state investor, I feel your pain.

And if your investor friend’s private loan helps fill in any gaps, it might be worth considering that short-term pain for long-term stability.What do you think you’d focus on first... paying off that line of credit as fast as possible or jumpstarting the renovation to boost cash flow right away? 

It’s been a pain going there every day for the past 4 weeks and looking ahead to have to keep going there every day for the next 4 weeks.

Some examples of properties with high asset reclassification include medical clinics and hospitals with technical machinery and labs, grocery stores with machinery, shopping centers with rainwater drainage systems and large parking areas, industrial manufacturing facilities with advanced equipment, apartment buildings in suburban areas with swimming pools, golf courses, tennis courts and large parking areas for tenants.Here’s a list of the average amount of assets that can be reclassified into shorter asset life classes based upon the type of property.

Quote from @Paige Corsello: Hi Bobby, the majority of my business is in Pittsburgh, PA and Florida Paige I can go 80% cash out in PA In FL I can go 75% cash out and 80% rate and term

Then you are in control of that money.Dealing with an insurance came is never easy, and sometimes it can be downright a pain.