If you provide any kind of substantial services like catering, car service, etc you will change you tax situation and no longer can file under Schedule E.

There is also a provision in the promissory note that states in the event of default, we must deliver the property back in the same or better condition from the time of purchase. 2: We will deed the property back to the seller & execute a contract for deed.

@Apryl Skahill I e been with my current spouse 7.5 years.

I’ve been researching options like offering fully furnished rentals for traveling professionals or executives, especially with major employers expanding their footprints in the region.

Two flats are essentially just houses.... they trade like houses and there is a lot of emotion involved.

After reading Brandon and Brian's book, The Multifamily Millionaire, Volume II: Create Generational Wealth by Investing in Large Multifamily Real Estate, I'm a bit puzzled as to if the GP's must have real estate experience, or if someone can connect enough professionals/companies on their team to execute successful investments.

I spoke with Daniel E who seemed like a nice guy but as I learned more he told me there was a $1200 yearly fee to be a member.

Say that $500k is invested in a new trade or business - now it is business interest expense. 

Plus, you’d probably reach your goals faster with that plan of attack if executed properly.

In place of a flat fee I can see the transition being something based on referral (did my buyer agent get me a trades person, lender, home inspector, etc.