I would not advise any individual stocks until you have at least $5k to $10k in Index funds.

The CPA is advising that each series must file it's own return because each of the series have myself/my wife as partners on the Company Agreement.

SHE should be talking to a professional who knows her entire situation and can properly advise her. 

I am looking for advise on steps I can take to find out if it is possible to include a 5th unit in the backyard. 

Thank you very much for taking your time to advise @Bridgette Delv.Very good point “what I have to lose”Thank you agin and god bless you.

@Fay Brown every single time I’ve bought property there’s been some compromise.It is extremely rare to find exactly what you want in any market, though obviously it’s easier in buyer’s market (ten years ago) then a seller’s market (today).A good real estate agent should be able to help as far as what are realistic expectations and what are some areas where compromise might be advisable, in order to open up the field of possibilities a bit.It’s definitely true though, that type of financing (or lack thereof, in your friend’s case) has no effect on determine what’s out there, available in the market for making an offer.My usual advice here is: Make your own market.

Admittedly, your profile would seem to indicate you are..If you are flipping, I’d definitely advise starting your LLC.

It sounds like you are trying to violate HOA rules (because I suspect this requirement was put in place by the HOA to prevent what you are trying to do).While this might be possible by having a master lease an then adding/removing roommates as needed, it might not be advisable to make an enemy of the HOA and your rule-abiding neighbors - In many communities, the HOA can make your life miserable in many, many ways, and you want to avoid their radar (and their hit list) whenever possible. 

I believe more than a few tax pros on this forum practice what they preach and invest in RE themselves (myself included).Judging by your description of your current situation and the hypotheticals on your horizon, I would advise you to look for continuous guidance as opposed to a single consultation to clear this one hurdle.This is a growth and preservation of wealth plan.

@Edith Alvarado de Cortez i use LLC's for mine, however every situation is unique so it's usually best to consult a lawyer for all this so they can set you up the way you need to be in regards to what kind of entity you need, it could be an LLC, S-Corp, etc... and then they can advise you how to hold them such as LLC's owning LLC's, your trust owning an LLC, etc