To answer your questions thoroughly, I practically have to write an accounting manual.

As an IRA account holder, it is questionable if you can draft them for your IRA because a) might be practicing law, or b) more likely, providing services to your IRA (violation of the rules). 

Therefore, I hope this document will help everyone come to terms with how important it is to abide by this Article 6: Code and StandardsCODE OF ETHICS AND STANDARDS OF PROFESSIONALISM FOR THE NATIONAL ASSOCIATION OF RESIDENTIAL PROPERTY MANAGERSIntroduction:The National Association of Residential Property Managers (“NARPM®”) promotes a high standard of business ethics, professionalism, and fair housing practices.

Then, once the property is placed in service, it is slowly depreciated rather than deducted - clearly a bad result.One way around this predicament is to place the property in service first and start the rehab later - usually not a practical option, unless it comes with a tenant or is in a rentable condition as is.Another way is to treat the rehab HM as the initial financing and the follow-up refi as refinancing of that initial loan.

Is this common/ethical/practical?

I also mentioned to keep good hygiene, run exhaust fan in bathroom etc.  

I also actively practice on analyzing dozens of deals in Florida and San Diego, and have been for about two months.

I currently rent a 3/1 condo for $1,450.00 month and I rent a private office from a friend for my practice for $500.00.

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney.

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney.