Accurate records of all expenditures are essential to claim deductions and calculate the cost basis for future capital gains taxes, including depreciation recapture.This post does not create a CPA-Client relationship.

I remodel making sure that future changes are easy.

You will pay the 21% corporate tax and then you will be taxed on your dividends in the future. 

With the current market conditions, I can definitely see more of these type properties becoming available in the future.

I'd personally never take capital that I am paid to manage without committing my full-time effort to the situation and putting a majority (I reserve the right in the future to make this 1/3rd of my position) of my wealth into the situation. 

Even if I am to not be taking home the lion's share of initial deals, I'd like to still be building some capital for future dealings.

My goal of refinancing was simply lowering our monthly spending to reallocate towards future investments.

Should i ask the downstairs tenant for the footage to have as proof to have and document for anything in the future? 

Below is a link to the rent assistance program in Canton, Ohio; I would collect the current rent from the family and then provide them with this resource for help with future payments. 

I sacrifice today in order to reap the rewards in the future.