I have had inspectors look at rooms on renovations that were not permitted (we weren't even doing work in the rooms) and asked that certain changes to be made to bring the room up to code (it was minimal).

As explained above, income from the financed portion of the property in an IRA would be taxed as well, but you can deduct related expenses, including depreciation, to minimize this tax liability; that is why I recommend a discussion with a tax expert to understand what your numbers would look like.Hope this helps!  

Purchase Terms: Clearly outline the terms for your brother to purchase the property from you, including the timeline and price.To minimize the financial burden on your HELOC, refinance the property into a traditional mortgage as soon as possible.                                                                                           

If you’re set on condos, ensure you’re targeting areas with strong rental demand and minimal HOA restrictions.Regarding an LLC, it’s great for liability protection, but it won’t necessarily give you tax benefits unless structured strategically.

@Rick Albert, It seems that you're suggesting that the goal is to raise the rent to below market value to try and minimize the risk of vacancy. 

They’re a great way to generate passive income with minimal hands-on involvement.Looking forward to hearing more about your goals!

At the end of the day, owners get a PM to minimize headaches. 

If you’re set on a duplex with minimal rehab, an investor focused agent should have a strong network of contractors who can give you quick quotes, so you don’t wind up with any pricey surprises.

Even minimally.

I've added a few things for very minimal cost that guests really love and increased revenue ~34% year over year.