@Michael Moreno When it comes to self directed accounts that allow for alternative asset investing (not all do) it is important to be aware of prohibited transactions and disqualified persons. 

I don't see why there should be too many problems with doing something like that except for maybe consider checking with your building department and local zoning if a commercial property is allowed in that particular area that you're residential property currently sits? 

First I suggest you find out what is allowed in your jurisdiction.  

Ideally, it would be something that not only allows to register all the different expenses related to the property and mortgage, but would include the amortization of the mortgage so you can see on the same spreadsheet how much your equity is growing.Thanks

@Jacob Maes There are many syndications that allow non-accredited investors to participate. 

One of the major issues with this type of framing was that it allowed fire to spread through the levels much faster due to the open wall cavities.

This on addresses your specific 2nd qeustion.The question is not whether clearing the jungle qualifies as a preservation improvement, it is whether you are even allowed to recover for preservation improvements at all with that property. 

@Bruno Demarco Quiroz thank you for "correcting" me somewhat over my comments on the airport, thereby allowing me to clarify my thoughts regarding that topic. 

I know there's some thought out there that you should cultivate direct relationships with insurance companies or construction companies, but  that's tying yourself to one industry when the platforms like Airbnb or Zillow are where a much wider pool of potential tenants are looking.Long-winded rant aside, I bet Atlanta has a great market for MTRs (and probably STRs if the laws allow them).

However, an essential exception emerged in the 1990s, allowing specific rental income to be categorized as non-passive.