Tax-wise: He says since it's a passthrough entity  I will have to pay California income taxes either way since that's where I reside.

Investment Info:Single-family residence fix & flip investment in Minneapolis.

But it’s a great solution! 

@Robert ReineriYou will need to pro-rate the property between personal residence and rental propertyItems such as mortgage interest and property taxes can potentially be deducted in Schedule A.

There's a lot to this electrical story but I'll try to focus on what I'm here for which is a practical and more immediate solution to a much bigger problem of a building built in 1911.Upon purchase of a 4 unit building I find the first floor, and much of my basement, is dark.

See how you can help, find solutions, and learn.

I originally was planning on buying a house just as a residence, but after listening to the Bigger pockets podcast and reading Rich dad poor dad, I want to make a smarter investment.I am in a unique situation because I work for the police department and my primary residence is required to be in one of the five boroughs or Long Island.

As I scale up, I would find a digital solution with low processing fees.

Investment Info:Single-family residence buy & hold investment.

When you get really good at looking for solutions, you’ll start seeing every problem as having multiple solutions available at no or low cost.