These are professionals with additional training and a stricter code of ethics.

💸This can be a great opportunity for homeowners to host meetings, events, or short-term rentals without the burden of additional taxes.

You're a great addition to the real estate community.

I was about to start the process to get a retroactive permit but realized the additional cost of a new exterior stairwell (metal) and architecture fees is almost 30kIm starting to weigh the options of either full tear down with a new 4 unit construction or separate building in the front of property (current is set back thus the extra costs to permit)  or adding a 2 story 2 unit addition connecting to the old propertysorry this post has become 2 ideas i need advice onif it deconvert can i use it as an inlaw suite with 2nd floor unit or a duplex up. 

Additionally, and importantly, I’m not buying large apartment buildings so the effect on my and my clients’ portfolios will be muted.

If you do a search for LLCs on BP, you'll see a range of opinions - it depends on your individual situation and risk tolerance.For 2024 if you have an LLC you have to file additional paperwork with Corporate Transparency Act or face fines from the IRS.

Save up the rent money from the house hack (or start now if you already have the cash) to finish off the basement into another rental unit (if zoning allows) or additional square footage to the current property.

Additionally, you can claim depreciation on the portion of the property used for rental purposes.

In addition to reading the books and going to meet ups, I'd also recommend the BP podcasts.

I have a six-figure W2, and I receive stocks gifted to me and bonuses totaling upwards of an additional six figures a year.