I highly recommend you jump straight into the commercial level if you can.The metrics of commercial real estate I would’ve never done anything else.

We decided to go ahead and take advantage of the market and sell.

A master lease would definitely be a good option, although the seller would like to go ahead and sell it through owner financing and take advantage of the lower tax rate.

Of course, there are no guarantees in the investment world but a 2% increase in the value of a typical say $800,000 Bay Area home (increases have of course exceeded that rate historically) is $16,000, which means that in a given year you would be ahead $16,000 - $1,500 (i.e. $125/month) + 12 months of principal paydown. 

It is a bit much and if you do not have a competent contractor, it will be a head ache.

The Key to getting ahead is getting started" - Mark Twain 

Thanks for any help ahead of time!

Nothing about any of it is straight forward.

Chances are, that person will have a chart of accounts they will want you to use to keep things straight and to report back to them.  

Hurricanes are a tricky business, we’ve had 3 in the last 3 years, and I’m actually flying back to Wilmington right now just ahead of Elsa, which I’m hoping is down to a tropical storm by now!