Even if we have to keep the existing floor plan I think we could still charge $1400-1600 in rent for the area based on comps, which would still make this a profitable deal.Here is the unique aspect to this deal that I could use some help with.

What is unique about this situation, at least for me, is that the duplex is owner occupied which qualifies the current owner for the exemption.

Clients are always happy when they ask their CPA how much they owe and they can say nothing or much less than expected. 

Busy commercial brokers do not have time to pull tons of comps for non clients.

I know on a small level some of my clients that bought in Texas only to have their tax's reassess after they purchase went from modest cash flow to negative cash flow just beacsue of ad valorum tax burden.

I've got a Shelter agent that I refer my clients to here in STL.

@Eli Altman , my  bank will notarize for clients for free.

I tell all my clients- when it comes to property management companies...PLEASE DO your research...check reviews, check BBB, etc.

In the past couple years I have originated a ton of short term rentals in the Smoky Mountains and also looking at the Asheville area and after seeing the returns and having my clients come back and purchase 2 - 4 more we decided to go the short term rental route ourselves this past Jan and it is already bringing great results!!

I know we fill these brokerage forms out for our IRA LLC clients.