That makes sense, I feel like I have seen alot of heat around the sector between GPs and LPs so that is great knowledge to know to avoid that in the future.

Try leaving a plate of Canned tuna fish by the door outside with some water.Your cat is probably not too far away, may be visiting a girlfriend cat who is in heat or something And snoozing outside in the bushes near that house.

I was concerned with heat pumping and windows open, too. 

For future years, we probably wouldn't meet the 500 hours test (though we still do participate a significant amount as we periodically re-stock supplies at the place, handle most maintenance issues due to shortage of workers in the town, and monitor sensors during guest stays - leak sensors/heat/stove).Specific Questions on Depreciation:Assuming that I have the qualifications for non-passive activity, I then have some questions on bonus depreciation and related stuff.5) It is my understanding that Qualified Improvement Property (QIP) bonus depreciation is probably not useful for me because I did most of the renovations prior to placing the property in-service (save for a few things).

We're looking to build something unique/contemporary with of course elements of the local area (mountain town).

Lenders typically prefer to offer loans when the property is cash-flowing; if the DSCR is under 1, it might still be possible to get a loan, but expect less favorable terms.Understanding these elements will help you better prepare for securing a DSCR loan, allowing you to leverage your rental properties effectively for further real estate investments. 

And apart from that side, assuming the project goes well, does the cost and profit share elements look fair?

So far, we've pieced along different elements of this (different tax person each year, no LLC to one to now 2 this year, haven't yet used a bookkeeper...)trying to streamline systems and have a solid foundation for our fairly new and growing real estate portfolio. 

It's a special product.Regarding not having a standalone HELOC product, in 2022 during the heat of the low rate boom we did suspend our standalone product, and I can absolutely understand that wasn't ideal!

While shopping for a small multi-family building (3 or 4 units), I would like to get an inspection of the building to get an estimate of repair costs if any problems are found (foundation, roof, electrical, plumbing, heating).