You are looking to rent or buy a space with a partner to have a personal fitness business or just a class?

As a matter of fact, I had a discussion with a flipper a few weeks ago that brought this new reg to my attention, he was considering getting out of the business realizing that now he would have to comply, and that it would substantially hurt his bottom line.For me, as a conservative leader, I see it as a positive.

Is it a good idea to form an LLC to buy your first house hack?

They were referred to me by a friend of mine who owns the a large local business.

Obviously there can be exceptions, but just to give you general idea.

Or, find a business partner who has money, but not time. 

@Seo Hui Han you're not going to get very far in this business if you don't start thinking through the nuts & bolts of how this all works! 

Using a foreign entity in another state results in foreign entity filing if operating business in my current State.

There are some institutions that allow you to use both W2s and Bank Statements to qualify if you hold a side business of some sort. 

@Ade Akingbade so, you jumped in without looking and you're now in over your head.You bought someone else's problem without a clear plan to turn it around.Highly recommend dumping this property and taking whatever loss you have to.Otherwise, you will just lose more money trying to fix this situation when you have no idea what you are doing.Bring your funds to Detroit - which is growing!