The rule is based on if it's "within the primary dwelling unit" of the taxpayer or not. 

On a commercial asset the value is directly based on the NOI (net operating income).

To determine price range, the first step is always figuring our how much you are pre-approved for; and that can vary significantly when you are looking at multi-unit properties because of the additional variable of rental income that can be included in qualifying.

I have a W-2 Job, capital saved up for a down payment (or two), and a buy box based on my affordability.

If they try to pay their labor as 1099 they run at great risk of violating a host of draconian labor laws such as AB5, the borello law and a litany of "misclassification" laws.There are substantial differences in how "right to work" statstate as operate as opposed to "non right to work" states.SBA defines a small business based on employees and revenue size.

In the meantime I would touch base with lenders and get the financing squared away.

I would encourage you to sit down with a couple of real estate salespersons and choose one based upon experience as well as knowledge of the area. 

Lots of folks are pulling out cash based on the appraised value for their next projects and holding for a few years to benefit from appreciation. 

The refinance step is where you pull out this equity, typically in the form of a cash-out refinance.Here’s how it works:You refinance the property at its new appraised value (after rehab and renting).You take out a new loan based on that increased value, ideally for the full amount or more than what you originally paid for the property.The goal is to pull out enough money to cover the cost of the original purchase and rehab (or even more, depending on the property’s appreciation).This allows you to recover your initial investment, which can then be used to buy your next property.5.

MarttiHi Martti, I’ve done BRRRRs in both Columbus and Cleveland, but I’m based in Columbus.