If so you may want to do it with permits, so that it shows on tax records.

I know many people have lawyered up, and they’ve gotten nothing of value back in return for their legal fees.

Consulting with a tax professional can provide tailored advice to navigate the tax implications of this arrangement, ensuring both parties understand their reporting responsibilities and maximize tax efficiency within the tenants-in-common framework.Hope this helps!

-I hear condos are now charging outrageous amount of money for association fees and costs and people are selling their properties on account of this.

I was originally just considering converting my IRA to Roth while it still makes sense with my income and current tax code before thinking about real estate. 

Max - No I didn't use them because I asked the same questions for their tax ID or DUNS number and they never replied.Matt - gotta love how you literally said in your comment above that "I'd do it," and now you're posting links as to why not?  

Calculate your NOI (Net Operating Income) by subtracting your operating expenses (including mortgage, insurance, HOA, maintenance, and property management fees) from your rental income.5. 

Something to keep in mind is that if you were living in 1/2 of a rental property 50% of the building maintenance will be tax-deductible (this is because 50% of the building will be investment property).

After several years investing as an accredited investor, I’m moving to building my own portfolio of SFH and small multi-family that I control and add tax and passive income benefits for additional investing.

I would ask about the application fee, since that is not typical for a lender to charge.