One could argue that his entire lifetime of work was wasted.

Rich Dad Poor DadRich Dads Cash Flow QuadrantRich Dads Increase your financial IQThe Real Book of Real EstateThe ABC’s of RE InvestingThe ABC’s of PMRich Dad RE Tax AdvantagesThe 10X RuleThe E-MythThe 4 Hour Work WeekBiggerPocketsPodCast -I hear #136 is exceptional!

I'd honestly argue that this is clearly in the black area.  

If that is the case, then I would argue that the lot is owner occupied, you simply have a roommate.

I recommend 3 books on the subject:1) ABCs of Real Estate Investing by Ken McElroy2) Wheelbarrow Profits by Jake Stenziano & Gino Barbaro3) Multi-Family Millions by David LindhalThis will give you a good idea of what it takes to invest in apartments.

(Texas is not an open records state...apparently so wealthier individuals with unusual custom homes can argue for lower property taxes...to add to their oversized mortgage interest deductions at tax time...to maximise tax write offs) SO taxes on this property will be right around 5k at 2.5%, which may actually be low as the area is a MUD.  

Again good luck im looking a fourplex myself in GA and I have read the ABC's of real estate investing by Ken Mcelroy(I think) like 3 times now.

I would argue that percentages vary by area and property type.  

ABCs of Real Estate Investing by Ken McElroy Best of luck!

There are plenty of disadvantages to my structure for someone who requires individual vesting for conventional bank loan qualifications and other will probably argue that the asset protection level is lower than other offshore strategies (true) however I'm a stand up guy and don't run from trouble.Best advise: keep it simple for now and focus on deal flow (and cash flow) until you have something to protect from taxman and the crazy people.