Rather than just correcting the permit, we decided to split the building into three separate condos.

That way each property has its own separate books and records, its own insurance, its own bank accounts, resulting in no legal exposure to the other properties, nor co-mingling of funds between properties. 

Old 1961 house, with separate entrances to the upper and lower level; I suspect it functioned as an actual duplex at some point.

What ideas do you all have about separating and sub-metering tenants' utilities?

Should I have two separate offers for each property or is it possible to add both properties to one offer contract?

These factors, which should continue to apply to the separate entity test under the check-the-box regulations, include—the sharing of profit from the business;the sharing of losses from the business;ownership of a capital interest or performance of substantial services;participation in management; andrepresentation to third parties as a partnership (including the filing of partnership returns, the existence of a partnership agreement).

Hey everyone, I have separate bank accounts for my rental business.

It has 8 one-bedroom units, 24 two-bedroom units, and 8 three-bedroom units, all of which are separately metered for electric.

No need to sit there and spend time trying to separate or even spend money on software to do that.

It would be a separate transaction, which means you are closing two loans and have two closing costs.