My thought was to build:1) detached ADU on the new lot with the existing home and 2) build a large SF and another detached ADU.Of note, in this county the ADUs can be up to 1500sf.

Hi folks, I am closing on a property with my cousin and both of our spouses.

Congrats on the Acquisition.

-One of the cheaper options I have found is TaxAct Business ($140 + states), and TurboTax Small Business ($739 + states).The issue I am potentially running into, and I am not sure if the online software's mentioned above can handle (they won't tell me unless I pay for advice), is figuring out how to make sure the losses/initial capital contributions are reflected on my K-1 and not my business partner, since I made 100% of the contribution.

Always happy to see new investors jumping into action versus standing on the sidelines.  

A Heloc is loan that can become a sore thumb if not used correctly and can hurt the property it's on and the users credit.If you are going to use the funds for a down payment then a Cash out refinance is what you want to do to get the cash in hand. 

We renovated most of the house over the last 6 months and just made it active on Airbnb April 2024.

My question is can I still foreclose on the property this year.

I am wondering if i am being too conservative on some costs. 

"Additional Insured" on Insurance Policy to Property as CollateralHow specifically should a private lender be mentioned on the owner's insurance policy to a property used as collateral to a loan.