Common examples are sloped ceilings that aren't high enough, basement areas that, open porches, etc.Bottom line, if you're going to convert a property, you'll need to get floor plans.If you have more specific questions I'm happy to help you out.

I am waiting for a hot shot like yourself to argue “where the line is drawn” with the IRS before passing final judgement.

I work in NYC today, and know most towns within those counties have either a bus or train line into NYC.

These numbers are based on yearly averages they provided and but they line up with what I have seen on similar properties in this area.

The gas company handled everything from running the new gas line to installing the new furnace.

However once I found this deal and told him of the price he said that’s not a deal and didn’t even hear the comps, nor did he hear how many beds or bathrooms it was.

Then record home-equity lines of credit against them payable to an entity the client was privately.

@Callum SinclairThis is a month-old post, so I'm probably late.The simplest and most effective setup is usually to keep the whole business under your name or an LLC that is 100% owned by you, and set up your family members as lenders, as opposed to partners.If funding the deal makes it impossible, due say to your credit, then you can reverse: have your dad own the property under his name or his LLC, and set yourself up as a contractor for him.Bottom line: it is case by case.

I am closing on a student rental friday and have another lined up after that.

Bottom line, be hands on, learn the processes, and you'll make a much better owner/investor now and in the future.