A sort of related note too, you should consider an estate plan if you do not have one yet and you are a CA resident and own real property.

A lot of my clients get a HELOC after so they can keep mortgage low and temporarily pull cash out for various projects which they pay back after.I didn't even consider an owner-occ loan on a property a bank will lend on. 

Also, most states don't consider an unfinished basement living space - so lead paint issues aren't considered a problem in an unfinished basement. 

One other thing to consider: An expense such as you are considering can't be written off in the year you pay it. 

Based off what they consider an acceptable return will then determine how much you get to participate or pay for the deal. 

In comm. property states, you are allowed to consider an LLC to be a disregarded entity if it is formed by a husband and wife who file a joint return, and only if you indicated that when applying for the EIN/Tax ID.

The new Atlas 14 flood maps make one important change that you might want to consider: an inability to add additional structures to the site.

You may want to consider an unpaid mentor or a paid coach.

When you get to mogul level you may wish to consider an LLC.  

I have a vacation rental already that I don’t really consider an investment since the goal is to spend time with family there.