Hello,  Does anyone know of an architect in the Cleveland area, specifically Westlake that can draw plans for a home remodel?

I’m not here to yell you not to do it but I’d spend a good 80 hours obsessing on this forum and reading books like @Brandon Turner no and low money down before you take the plunge in to Brian Page.

You'll also want to register that entity in the State in which you plan to buy property.

Here's a few thoughts- On the math side you know you will take a 35% hit if you sell but how upside down will you be if you spend the money to finish the rehab?  

My plan is to move out in two years after I qualify for the possible capital gain tax exclusion so then I can either decide to keep it for 3 additional years (or maybe longer, and forgo the exclusion)and move the home into a LLC.

A cost segregation study is a strategic tax planning tool that separates the assets that have a shorter useful life and can be depreciated over 5, 7 and 15 years from the residential rental property or nonresidential real property that are depreciated over 27.5 and 39 years, respectively.

My team closed on a brand new construction 4plex this week in a master-planned community near Lackland and Medina Airbase.

The plan is for the partner to actually live in the house.

If you are planning on living in the house, 5% down is the lowest you can go.I would also encourage you to start tracking how you spend your money and see if you can cut spending to save more money or find ways to increase your income.

They are planning a cash out refi (which is non taxable) which I'm including the reinvestment into the IRR.