Define your criteria (e.g. purchase price, # of units, location, etc.).

This “front-loaded” allocation method is consistent with IRC § 1(h)(3), which defines adjusted net capital gain as the residual category of capital gain not taxed at higher rates.

We are trying to define SOW for contractors and need to understand all things that we need to add.

Now you need a joint venture agreement to define your relationship. 

This is usually defined as renting to 4 or more unrelated adults.

My two tips: 1) take advantage of the search function to find threads in the forum for any questions you have (before posting/creating a new thread) and 2) regarding investment property-- clearly define what your goals are on the front end so you don't get distracted when evaluating deals (and your goals very well may change or adapt!). 

In most states if you market wholesale deals you need a real estate license as they define that as a broker.

On the flip side, the architect will define all of the material for you.

"Part" is not defined but you cannot rent it for 12 months out of the year....because other wise you won't occupy it for "part" of the year. 

@Martin Weinstein hmmm, there has been some confusion about this question in the past - so I want to define "recourse" in a few different scenarios if you don't mind.1.