No matter where you live or where you own assets, I personally recommend the Series LLC to be a great tool for the individual investor who is planning to expand their operation, as it allows for you to scale infinitely for FREE.

Buying as a primary allows you to put as little as 3.5% to 5% down.If you do have any issues with the business down the road you can always use a DSCR program which allows investors to buy an property without having to show income or employment.

If I am correct, does anyone know where this is in the IRS code allows this?

Do you know if the loan allows you to use the property as a primary residence?

I won't presume that they shouldn't have done this, but will state that in most jurisdictions with rental licensing laws thats a big no-no.To answer your questions generally (not specific to Colwyn Darby, PA because I am not licensed there):1) Generally the county will not allow evictions or rent collection actions if a unit is being rented without a licenses.

@Dav PohoteI think this is one of those things that comes down to your goals.If your goal is "pay as little total interest as possible" - OK, buy in all cash or with a shorter mortgage.But having a lower payment allows us to do other things with the money.I don't only invest in real estate - I invest in ETFs as well. 

Stick to what your mindset and skill sets allow.

This is achieved because the IRS allows deductions for interest paid on investments when the money is borrowed to do so.

Zoning would not allow for anything else, and it wouldn't make sense to try. 

My understanding is that so long as they confirm that they're moved out and give me the keys, I'm well within my rights to just have a junk remover / trash company take whatever was not there to begin with, and deduct that from the security deposit?