Account ClosedAdding your property manager as "additional insured" is standard practice and beneficial for you.

Quote from @Eric Huntermark: Additionally, as I'm thinking about conventional loan products as well.

I would have in my buyer agencies on additional terms that that there would be a minimum commission so I’m not making a few hundred bucks.

I would keep the work very cosmetic, and I would enjoy the additional space and/or revenue from the unit without considering digging up, etc. 

No, you cannot create phantom losses this way.Some additional issues that we have not addressed:- holding rentals inside an S-corp has many tax disadvantages- you will likely jeopardize your $250k/$500k capital gain exclusion for homesteads- you will lose asset protection afforded to personal residences by most states- you will lose your homestead exemption for local property tax - your insurance will have to change from owner-occupied to rental, i.e. go up- and there's moreConclusion: there're reasons why nobody is doing this clever "strategy" but A+ for trying.

Scaling by Refinancing & Leveraging EquityOnce you’ve built up equity in your properties, you can refinance and reinvest into additional deals.Key Refinancing Strategies: Cash-Out Refinance – Pull equity out of a property and reinvest it into another deal.

Sorry one additional item I hit post too soon...The reason I asked about TIA is because you generally want to get a contractors opinion of cost prior to lease during that negotiating phase so you know how much that TIA covers and what you'll be coming out of pocket for.  

Additionally, related-party rules could disqualify the exchange unless ownership is structured correctly.

While a properly maintained TN LLC might be sufficient for those who diligently follow corporate formalities, the additional layer provided by the Wyoming entity can offer significant extra protection, albeit with increased complexity and cost.

These are professionals with additional training and a stricter code of ethics.