Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

I know in Philadelphia if I had a 2 BR house it would be viewed favorably by tenants who are seeking 2 BR living situations because most inventory will be apartment style living and for this reason would achieve a rent premium.

Hey @Raghavendra Pillappa, late to the party here but everyone said it best.I wouldn't move forward on this until you find out all the details on if the septic can be expanded and if things were done correctly to add the bedrooms.

Your detailed explaination will be highly appreciated and I know it’s not a legal advice 😁

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

Detailed answer:https://www.biggerpockets.com/forums/51/topics/1136752-expla... 

However, there's a critical detail that many tax advisors conveniently overlook when promoting these studies.Here's the uncomfortable truth: If you're a high-income earner (AGI > $150,000) and not actively managing your properties, those promised tax savings might be locked away for years.

The only creative way I can see (obviously not knowing enough details) is an owner carry with you as the operator and a JV partner as the financial backing.

A 10-page life vision is too much and too detailed.

DM me with some details about what you are trying to do and we can talk.