Would you listen to a lawyer who tells you not to try an investing strategy that other investors have proven to work despite warnings from a lawyer who says it is too risky?

The reality is that:1) insurance is your primary line of defence2) You would need to be extremely irresponsible to warrant a suite (or make yourself a target).3) lawyers can/will pierce the vail of a LLC  

The goal at the end of the day is to make your properties NOI as high as possible and keep the property in the best condition to have the lowest CAP rate in the going area.

My Question....Assuming the building’s conditional rating remains the same. ( Example, purchase a C+ building and it remains a C+ building)  is it....Highly Likely,Likely, Unlikely or Highly Unlikely ....that the the next appraisal for the refinance will use the same cap rate?  

Otherwise you're going to be dumping more than just bleach down the drain with the lawyer fees.Best of luck @Chris A.

cody, i would get written policy made up and hung placed publically all around entrances and exits, over due it at eye level, then email and mail same new bld policy to all units. legally must have signs posted up along with contract. as per my lawyer written signs are like public bld policy. then require in lolicy a fee. i charge $25 per butt and $55 hour cleaning fee. and then buy and   install activtek system from me to kill all smoke odors and hit them with fines for having use air scrubbers. keep sending them air and surface cleaning bills every 3 days.

Looking at the outside shot of the home, I can see that the roof isn't in perfect condition... it's either really old or structurally there's something wrong with it and I know roofs are a VERY expensive thing to address.

Cap rate is reflective of the risk of the asset, assuming it is in performing condition.

I'm neither a lawyer nor an accountant, but I recommend Googling "closely held corporation" and then asking your tax accountant how, if any, the proposed idea might impact your overall tax situation (https://www.irs.gov/faqs/small-business-self-employed-other-business/entities/entities-5: A closely held corporation is subject to additional limitations in the tax treatment of items such as passive activity losses, at-risk rules, and compensation paid to corporate officers.).I've read that when two closely held corporations owned by the same small group of shareholders do business with each other, the IRS sees a red flag because some people try using this approach to evade taxes.From my readings of personal finance articles, this additional scrutiny is based on whether there is an "arms length" between the two parties in a transaction. 

We would love also to build a good power team (investor friendly agents, contractors, lawyers, title companies etc.) and would appreciate referrals.Please do not hesitate to share with us any thing that you feel we might find helpful.