I think this really belongs in the classifieds section @Joseph Taylor

Generally, a spec house is bought and held with the intent to build the SFR and then sell the property and would therefore be classified as inventory held for sale and not property held for investment purposes and would not qualify for 1031 Exchange treatment. 

So I took some time to read the workbook as this is what got me started investing in notes.While much of the advice may be outdated, (“place a small box ad in the classified section of your local newspaper”), Jimmy’s advice on “working a note” is as true and profitable today as it ever was.  

A construction engineer can classify the different components of your building.

Furthermore, your E-4 really has a lot more take home pay because they don't have to pay for medical benefits, retirement, life insurance, etc. and much of their compensation (think Basic Allowance for Housing or BA for Sustenance) isn't classified as "pay" and therefore it's not taxed.

Yes I understand an MTR is classified as a LTR.

We covered 1031 exchanges, cost segregation/bonus depreciation, and how to classify as a real estate professional on our call.The Real Estate CPA - https://www.therealestatecpa.c...This firm is not based in Arkansas, but they work with real estate investors across the US.

Found via classifieds.

This is what I classify as an executive-level rental.

This happens all the time - considerations are:(1) Size of their per diem fee for their standard stay;(2) Size of their per diem fee for holding over;(3) Insisting they maintain their regulation insurance and obtain renter's insurance;(4) Making sure agreement classifies them as licensees not tenants;(5) Making sure to have an agreement they will cover your legal fees if you have to bring litigation to remove them;(6) Size of their security deposit;(7) Extent of their responsibility for damages during their use and occupancy.Obviously, proceed with caution if the seller is sketchy just like you would with any other individual.