This is a fairly common question and it does have some important details to understand:There is quite a bit of difference in how rental income is counted between a "FHA" loan and a "Conventional" loan. 

Account ClosedThanks for the comments and details.

Not sure of all the details yet, but if it all works out I am wondering about what I need to complete the transaction in MO.

I’ll post more details there.

Message me and I can give you more details on the brokerage I chose and also two other people/brokerages you could talk to.

It could already be  legal 3 flat but if you need to request a zoning change its not just sending in a letter.PM me some specific details and I can help you figure out your situation.

Go online and check the Franchise Tax Board a d IRS to get detailed info on what you can do.

Still working on all the details but that is the plan. 

The project is expected to begin as early as August of 2018.[12] Proposed Student Housing Project on the NW Corner of Euclid and Speedway- Local developer Michael Goodman and national developer Peak Campus have proposed a 5 story development consisting of 163 units as well as 8,000 SqFt of commercial space for retail and restaurants.[13] New Project Could Bring One of the Tallest Buildings to Tucson’s Downtown Skyline- Although details are still fairly unknown, it appears a new development at the parking lot located on East Broadway between Sixth and Scott Avenues will bring a 300-foot towner with office/retail space, parking and residences.[14]New Mid-Rise Apartment Coming to Downtown Tucson- Located next to One South Church this new six-story project will consist of ground floor commercial space for retail/restaurants as well as 100 upscale one and two bedroom apartments.

Any details of how to close this out is much appreciated!