Do my 3 associates need to create a LLC to be able to do these renovations or can any individual do them, as long as proper permits are pulled? 

(Call it 20% federal and 5% state ($15k in income tax, plus the $45k in additional taxes you created.).

What I said in an earlier comment about "section 179 can't be used to create a business loss", that wasn't entirely accurate/complete. 

You have to do some work to create real estate specific "Classes" and expense accounts for QB.

Having a group of friends living in an apartment complex creates a sense of community and reduces turnover.

I do know that you focused specifically on the "Triangle" but I wanted to create a conversation.

Also, many PadSplit properties have bedrooms that are created via flex walls that wouldn't meet the definition of a bedroom in an appraisal, so many PadSplit owners may think their property is worth a certain a mount based on a bed count that's not valid. 

Being a one stop shop for mortgage, real estate, and property management helps us save our clients $$$ and they only have one company to deal with and one contact saves time and creates an unmatched synergy.

One day is not a big deal for a weekend move in, but one day late every month is a problem that may have been created from day one. 

That move created frustration on my part and the seller and had to amend the original contract.