His reasons were: a) he can borrow capital improvement budget, thereby not diluting LP returns and b) he could not underwrite yield maintenance.He continued to imply that his business model will remain short term holds (under 5 years) so this debt works for him and is better than fixed rate.My question to this community: would you still be willing to invest with an operator taking out floating rate debt in today's world?

As I need to register this business with the state and county, should I need to register LLC as "531110 - Lessors of residential buildings and dwellings" (NIACS code) or something else?

I'd love to explore how I can be a valuable asset to your business strategy.

Look at it this way you are opening a new $400k to $2.5M business location and you are going to let it open for business without coming in to go over everything. 

It’s very common in today’s environment that not only are deals too tight for an Agency exit today, but the value add business plan was delayed for any reason whether it was a change in management, slower lease up than anticipated, and now the property is trending positively each month towards Proforma numbers, but needs a bit more life, there are ways to get it done!

- Should I source a consultant or some sort of assistance to devise a business plan?

We purchased it for the purpose of rezoning to commercial and expand our existing business model (workspace rental for people in the creative field).

The market is booming in both the business and real estate sectors.

It has turned into a business for me.

So long as the home you own is not your primary place of business, you can rent it out for up to 14 days and not report that income on your individual tax return.