I love the added pro and con list!

As the old saying goes, it's better to "get prepared, aim, and then shoot vs. shoot and then aim." 

Specifically:Will the lender only consider the rental income from the two legally zoned units, even though all three rental incomes are declared on your tax return?

I did try a few arbitrages in 2018-2020 and I think altogether maybe a breakeven.  

Purchase price: $80,000 Cash invested: $80,000 This is a reno- adding a 1 bedroom unit to a three family home.

I'm a realtor and investor in Indianapolis and happy to share some insights tailored to your questions.1.

State and federal government liens like inheritance tax and IRS tax liens are NOT wiped away.

Quote from @Devin James: We’ve slowly been improving our homes the more we’ve built and the more feedback we get from our Buyers2021 – Added 8ft doors throughout the home2022 – Added a new elevation with stone in the front of the home2023 – NO carpet in the bedrooms, LVP throughout the home2024 – Added hurricane impact windows & new color options2025 – Adding Ceiling FansGotta be open to feedback and adjust accordinglyThis can be the difference of your home sitting on the market for 4 months vs 1 month where's the modifications and pictures?

We affirmed the absolute rights, set forth in your State’s LLC Law, for ANY Member to request copies of the three most recent years Federal and State tax returns issued by the LLC. 

And I see all these people doing it with this scheme and that scheme, and real estate investing content seems a golden ticket.