Purchase price: $63,000 Cash invested: $70,000 Sale price: $215,000 Project Overview:a complete floor to ceiling renovation with an added bedroom, full basement reno, custom kitchen, and a full list of other upgrades. https://youtu.be/BXD5TU2VCsA?

Both are completely legitimate strategies, and there is no reason to avoid these strategies out of fear of an audit.

It sounds like Irvington is established already but is it still up and coming?

Pete sounds promising, especially with the high appreciation potential there.

I seem like a complete downer on these forums, but building new homes is much more difficult than most people think."

I like the sound of option 2 but the risk profile of option 1.

One of the bathrooms had to be completely redone but I was able to double the rent.

The answer is, and I'm gonna sound like an attorney, It depends.Depends upon your goals, your mindset, your risk tolerance.  

The W-7 form may look easy to complete, but we highly recommend finding a certified agent to handle it.

When you meet him, mention that letter 30 minutes into that meeting, the light bulb will go off, but now you're not just the rando letter person, you're also the person that knows the person who introduced you, etc.That's sounds a good strategy.