Now we are going to have to go through the eviction process because he is refusing to leave and feels that "someday" the state will come through. 

So now, I am reaching out for some inspiration, what do you suggest I do with this existing 400 sq.ft conditioned space?

15.3% Self-employment taxes is a lot.Scenario 1 - You do a cost segregation study in year 1 and create a huge loss to offset your other income, great for year 1.Horrible for years after 1 as you used up a majority of your depreciation and now your net income will be subject to 15.3%.If your depreciation is mostly used up and don't plan to have net income, your business is not profitable.Scenario 2 - No cost segregation study is done and your depreciation is calculated over 39 years(low depreciation rate, you will likely be paying some sort of net income subject to 15.3%.Maybe not in year 1 if you have a lot of furnishings installed.

Assuming you are keeping them, you'll want to familiarize yourself with the BRRR method--both in terms of concept and actual tips and traps.

Now I do small multis instead which is much easier. 

I would greatly appreciate any tips/knowledge any of you would share with me to help me reach my goals!

Now my desire is to give a notice to vacate to Steve.

With media giving Florida condos a bad rap right now it can mean finding the best deal in 5 yrs on one. 

Good luck anyhow but if it was me I'd be filing now instead of later...

Hi everybody this is my first post and I'm very interested in buying foreclosure homes in Arizona but I don't know where to really start or what websites to use and all that stuff so if anyone could be kind enough and...