If I die tomorrow, my kids will gladly inherit hotels and they can run them because of professional hotel management and their franchised business model.That's a true legacy.In contrast, my houses and smaller apartments...at best, I can classify them as "semi-passive" income.

I mention this because you'll be using FHA & they may classify the  building as a 2 unit when it's legally a 3, which may impact your loan amount. 

After I received my employee identification number, I was told that if I want to, I have the option of filing form 8832 "Entity Classification Election" and elect to be classified as an organization taxable as a corporation.

The city, which has one of the highest numbers of homes classified as secondary or vacation homes, boasts plenty of outdoor amenities such as lakes and mountain trails.https://www.rgj.com/story/news...So, quit a few STR's do exist, some folks in Big Bear Lake are apparently posting signs that say "Neighborhoods Need Neighbors" because, and I'm paraphrasing here, they no longer have neighbors, only STR's.

https://www.nolo.com/legal-encyclopedia/does-the-federal-fai...Yes , that is why I like single family housing only….there are more regulation / issue / law when it is classified as multi family ,but I could select the renter that fits into my criteria when it is SF 

True mentoring should be classified as Fastrack education, otherwise you can learn the old, long way, with all the pitfalls, mistakes, errors...

How you classify such cost however can have a material effect on perceived investment performance.If you buy a foreclosure rental property for $70,000 but that requires substantial work done to get it into a livable/rentable condition -- say it has a torn roof, busted tiles/floors, needs a new ceiling etc.

As you can see, only 2/11 of my Section 8 tenants can be classified as "quality" tenants in the same exact area where 8/9 market tenants are good.Anyone claiming Section 8 tenants are no different from regular tenants either has an agenda or is ignorant and has never been a landlord.

Most importantly:It created a pathway to phase out the massive subsidies FEMA has been giving to the owners of properties in repetitive flood zones;It required new mapping with the effect of classifying more property as flood-prone, expanding the risk pool;And because maps cover broad areas an not specific parcels it better codified the process of contesting flood-zone designation through Elevation Certificates.As soon as the subsidies started being phased out, there was a ruckus because the rates went sky high.

With all the cheap forms of advertising and free online classifieds, you should never run out of buyers that want to buy your deals.