You'd want to report this activity on Sch C instead since it's a different type of business activity.

Remember to back it out as a business expense too which should make the real rate a point or two lower depending on your tax bracket.2) For securing loans, I incorporate the value stated on balance sheets within my personal financial statements.

That would fill in the daytime and nighttime traffic and keep the building busy which would attract higher paying tenants for all of the other suites.A mural is a part of the plan.

Guys I read a couple great posts here about HELOC for self employed businesses were there are many write offs to show an income on a tax return.  

As mentioned above, some markets are visited by large groups on vacation while others are more "utilitarian" (business travel, insurance stays, special events, etc.).Competitive analysis will tell you what the market is currently bearing.

I agree with @Erin Spradlin - I think if you can confirm/convince potential tenants that there is plenty of on street parking it is not an issue, but if it is in a busy neighborhood where finding parking could be difficult I think adding the parking area would help a lot.

contractors are busy and like to stay within a certain range so recommendations will be based on where you are.

We are also getting a forgiving loan of 30k for the duration of 10 years from the county for 1 unit if we rent out the 1-bed basement unit to a household with income less than 100k and at the rate defined by the city )(~1183+ utilities) for a 1 bed unit.

His reasons were: a) he can borrow capital improvement budget, thereby not diluting LP returns and b) he could not underwrite yield maintenance.He continued to imply that his business model will remain short term holds (under 5 years) so this debt works for him and is better than fixed rate.My question to this community: would you still be willing to invest with an operator taking out floating rate debt in today's world?

As I need to register this business with the state and county, should I need to register LLC as "531110 - Lessors of residential buildings and dwellings" (NIACS code) or something else?