They were taxing as a fourplex, but the CO said it was a triplex.I found out when I went to try to refi with the bank.

However, there is no specific holding period contained in the tax code or regulations and there is no "safe harbor." 

Many of these are low income, government subsidized housing units.

Note that I live in the Netherlands, which has many tax laws.thank you 

Use umbrella insurance as an additional safeguard, especially if you opt not to form an LLC.Avoid S-Corp taxation for rentals, as rental income is passive and not subject to self-employment tax. S

If you were able to increase the value of the property significantly after the rehab, then you could bring the deal to a community bank  to refinance and take the hard money lender out.You keep all the equity and don’t have to file a partnership return for your annual tax return, which can be costly.  

I just started using it and so far the owner info matches up with the county tax info. 

Most places in Ohio can be profitable rentals... if you can stomach those property taxes!

You'll also need to show stable income for the past two years through W-2s or tax returns.Talk to 3-5 lenders to compare their rates, fees, and terms.

and that was owner occ.. todays rates are pretty normal actually. what you can do if you want though is find a really good HML and let them place a loan for you making 10 to 12% while your wait for things to change to a situation that you feel you want to move forward be more net return than buying a rental thats for sure. of course no tax bene's but there really is not that much tax benefit on one rental.. so just some alternatives.