Quote from @Nathan Gesner: Quote from @Nathan Liljestrand: I think probably the same thing as everyone else...finding enough deals to flip in our area.

You can't really copycat such principles, you have to think a bit differently.  

Conservatively, I think we'll be making around $80-$100k/yr ($50-$80 W2, $30-$50 self employed). 

And yes I tend to do that sometimes... start with just one question and then think of a second one while the fingers are doing the typing!

So, I went ahead and registered for TPT thinking it is just a matter of 6 months, till the end of 12/31/2024.

Think whether this ADU makes sense financially for you, and should you also get tax benefits, then it's a nice bonus.

And if you're wondering, the mentorship program we're part of is Think Multifamily with Mark and Tamiel Kenney.

I believe they stopped using knob and tube wiring sometime in the 40s.Roof - Of course in that amount of years, most likely the roof has been replaced at least a couple times, but this is also a big ticket items to look closely at.Plumbing - I think it was sometime in the 80s when PVC pipes were starting to be widely used.  

I also was thinking of purchasing the home and converting it to a group home.

Well, when it comes to filing taxes I usually don't rely on the kindness of strangers (especially when they have no liability), but if you think getting a lot of replies (some conflicting) will help you make up your mind - Have at it.Honestly, am not trying to be a jerk (as you can see it comes naturally), but your tax guy is the best liability shield against the IRS you have.