As a w2 (high) wage earner, the last thing I would want is more ordinary income.I would seek that happy medium of control and tax advantages. 

If he is well as I stated 20% is double or more than what we see as pref but can be in line with IRR at the end.on short term value add plays this is easy to achieve to really low.. difference of course is taxation. .one is basically ordinary income with no shelter .. but in and out in 18 months or less ( hopefully)  Or if it is MF  then i suspect we are talking about some pretty rough assets to get the purchase to rent ratios to throw off those kind of returns.

The Manager shall have no authority to do any act prohibited by lawor in contravention of this Agreement, nor shall the Manager have anyauthority to do any of the following without the prior writtenconsent of the Members holding at least a majority of the Units:(a)Permit or cause theLimited Liability Company to make any loan to any Manager or any oftheir Affiliates;(b) Permit or cause thefunds of the Limited Liability Company to be commingled with thefunds of any other person;(c)Permit any creditor whomakes a no recourse loan to the Limited Liability Company to acquire,at any time as a result of making such loan, any direct or indirectinterest in the profits, capital or property of the Limited LiabilityCompany other than as a secured creditor;(d) Perform any act whichwould impair or make impossible the ordinary conduct of the LimitedLiability Company's business;(e)Sell all or substantiallyall of the assets of the Limited Liability Company other than in theordinary course of business or merge the Limited Liability Companywith any other entity.6.04- Obligationsof the Manager.The Manager shall:(a) Devote to the LimitedLiability Company and apply to the accomplishment of LimitedLiability Company purposes so much of the Manager's time andattention as they determine to be necessary or advisable to manageproperly the affairs of the Limited Liability Company.

They are covered under the Americans with Disabilities Act (ADA).Emotional Support Animals (ESA) are not trained, not registered on any website, and can be any "ordinary household animal" like a dog or cat.

Have the tenant initial/sign a checklist showing the condition at move-in and explain both verbally and within your lease that the property is to be returned to you in that condition (less ordinary wear and tear). 

It may be best to market it as 12.5 feet vs 13.You say good location--but less than optimal layout.If it's an upscale area (or a wanna-be upscale area) maybe put in a minibar and doll up the stairway using stripper and whatever...Also if you have another 3 or 4 feet in front of the front door--and have the ability to push the front wall out into an \____/ maybe you could add some side windows plus some sq ft.And glassing the end with a big patio door might be unusual, but might also make the unit feel larger.Being it's an out of the ordinary layout (shotgun shack) and in a good area, something like in pic (1) might draw a different type of renter than your standard apartment unit--a little more upscale...but that adds risk to the mix too...as these people may not be as plentiful as section-8.It all depends on your business model.Just some food for thought.Good Luck!

Rental income is taxed as ordinary income according to your Internal Revenue Service (IRS) tax bracket. 2.

Flipping generates ordinary income.

New roof, new flooring, renovated all three bathrooms, new paint interior and exterior, new SS appliance suite, new lighting, new front storm door, xeroscaping front yard, new water heater, new concrete backyard patio and wood deck, new garage door opener, and programable thermostat.

So nothing out of the ordinary there.