If fixing the house is more expensive than just demoing and redoing it.THat is the simple answer.However you also need to take into account that even if redoing it is (slightly ) more expensive than just fixing said sheetrock... know that a full gut, will result you in a brand new house interior... something that fixing and patching will never even come close to.

I would not be concerned with multiple home offices, the law has changed to a simple method that the irs is unlikely to question.

The simple answer is YES.  

Of course not.They claim the situation is unsafe, yet they haven't even taken the time to call the police and file a simple report so the cops can look into it.

A simple question as I am a motivated beginner in Real Estate Investing.Thank you all very much in advance!!!

The LLC operating agreement would serve as the partnership agreement, plus the LLC will provide a layer of asset protection for both of you. 

No offense to anyone, I just would rather learn from people who have experienced at least one full credit cycle in this business and know how to operate regardless of interest rates/market conditions.

My 9-5 is in construction as a Heavy Equipment Operator.

I still have my network in Barcelona, but 100% of my operations are in Valencia.Valencia still cheap and you could get 7-8% without putting to much effort.

One other question, though: what kind of high-end working professional goes for coin operated washing machines over in-unit setups?