They are all very different business models and can all work together or separately.

A good tax pro can help potentially separate out some items for deduction in year 1 as a rental. 

Separately, we are continuing to see requests for booking for the remainder of the year.

We have to be able to separate our politics from our ability to evaluate and react to real world situations.

(This I need to get a better understanding, if i) each unit has a separate water meter that the tenant is responsible for, ii) otherwise if there is a bill-back arrangement with the tenants. 

@Nicolas BiangelIn the scenario you provided, I doubt you would find the financing except for a local bank and then you may have a problem getting one or two of the properties out of the portfolio because it would make the portfolio too small.Get the properties from the seller using separate loans for each property and save yourself some headache down the line.Stephanie

At the time, every other flipper out there had been installing white cabinetry but we wanted to separate ourselves from the pack so we went with a darker, pepper-corn color.

Also, are there two separate credit checks at the time of pre-approval and getting the mortgage?

@Russell BrazilThanks for the quick reply...So you know my pain 😩.I heard there is a law with regard to renting rooms separately.

She submitted her application and passed all of our qualifications (income, rental history, etc) When I reminded her that everyone over 18 needs to submit a separate application, she informed me that it would just be her and her two children living there.