On the other hand, you don't want your kid crying because you found 2K of extra work in the attic because the roof was leaking and they overheard you talking about it.

I don't actually need the extra features, but I've learned so much here, and I can only imagine how much money this will make/save me in the long run.

It was no longer earning anything... so I figured this would be a great opportunity to continue contributing to my retirement and get in the real estate game.

My parents are planning to pay the $100 extra.

In one town near me they require a rating of 3-A: 40-B:C, so I just use that type everywhere now (other areas likely to copycat, and the few extra dollars upfront aren't going to kill me).GFCI in all areas where water can be normally found; bathroom, kitchen, laundry, garage, all outdoor outlets, etc.AFCI in bedrooms (mandatory by code in some areas).Address numbers on the house that contrast with the background (how will 911 find you otherwise).All bedrooms MUST have a window that goes to outside and is sized to allow for a person to escape.Locksets - no double-keyed deadbolts, where a key is needed on the inside as well as the outside (I only use those locks during rehab, where nobody is supposed to be sleeping).Railings and handrails.Identify the water shut-off valve by the water meter so that the tenants know how to shut off water in an emergency.That's all I remember off the top of my head ...

Thanks for info Bill, I understand the paperwork and agreement side of things makes things complicated but if a few extra steps can net me 10-15% on our money then i would call that worth it.I have meetings with 2 more CPAs and 1 more lawyer next week.How does everyone else have their flipping income funneled?

I doubt I would spend the extra money on double hung windows fora rental.

It screams personal benefit.Also, if all of the profits made have to stay within the 401k plan, I don't see how I would earn enough capital to buy back the shares.

Then they add in extra for certain things.

Everyone's capital would earn a smaller preference(interest) that would be paid as cash became available, not regular payments.