There is an old LA Times article that came up saying 15 people was legally OK in a one bedroom, 800 sqft apartment.There is also a bunch of articles that say landlords have the right to restrict the number of people in a unit and using the 2+1 rule is probably safe.

Figuring out if it saves you money to refi is really just seeing how long will it take you to recoup the costs of getting a new loan with the savings in your interest rate.But, if you are on year 25 of 30, for example, I'd say your best bet is to just finish off the mortgage since its all principal paymenty anyway.Also, as how to move forward, thats up to your financial goals. 

**Property: ARV: $90K ( being safe there was 1 comp that should for $98K and 1 pending for $95K) **Repairs:  She explained a bunch of minor things that could be $10K-$15K ( all mechanics have been update and roof within 7 years) The pictures she sent home is definitely livable **This property can rent for $1050/ month **Mortgage Amount $63000*Monthly Mortgage payment $696 Im curious to hear the creative strategies as the cash offer just doesn't make sense here but I want to explore all options 

@Kwame Knights best bet is to look into those counties and what their rules are for Airbnb.

Not the other way around as the 'corporate veil of protection' is still valid while incorporating a business entity mind you.I think you're asking if alternatively an LLC would suffice as a way to organize, but this can easily be determined with an SEC lawyer (even an initial consultation).Your question indicated about ten people involved in this particular business plan and could be covered under the LLC as well in the ability of 'unlimited owners' (people involved)- but again that's where a consult with an SEC legal professional comes into play.There may be things that even your LLC would be involved with that (if you started there) would pop up on the SEC radar- and it seems better to know how to most legally organize from the start.There are various podcasts and books on this topic for folks in your exact situation, but I would consider maybe just skipping those and going for a meeting with an SEC lawyer from the gate- better safe than sorry, and you may be advised an LLC would work just fine for you.

There is a safe harbor from the IRS at 2 years. 

students deserve nice places to live. we aren't trying to be slumlords but i do realize that students probably have slightly lower expectations than other types of tenants, so i feel we wont need to break the bank in the level of finishing details like we did on our own home but we will provide housing that is clean and safe and attractive. also thinking we can use some creative materials and methods to make the units party-proof. maybe we get lucky and find some long term professors or grad students and don't have to do annual turnover on every unit. even so, i budgeted 8% for property management after watching david greene's webinar yesterday.the heloc would allow for an easy down payment and a nice buffer for rehab, and i have 750+ credit score and good wage earning history, so i think a conventional loan should not be a problem to obtain. a cash out refi might be an option on the horizon if we decide to really crank a proper rehab but the units (from the pictures i saw) are livable as-is.should i be more specific here on the address/market to get better help?

@Jonard Lopez sounds like your best bet is to leave the garage as is.

There are 4 parts to every real estate syndication (group investment).1️⃣ The Deal2️⃣ Financing3️⃣ Capital 4️⃣ ManagementThe LPs (limited partners) are passive investors and want to put their money to work by investing in safe, cash flowing assets like apartments, but may not have the time, expertise, or desire to go buy an apartment community by themselves.

Some might argue for appreciation but that would be purely speculative.I see it could have been a popular idea in a pandemic-stricken world of 2020, but I'd place bigger bets on traditional residential real estate.