I just entered in Turbotax my income from rental property (9000$), and some expenses i had (repairs) and my total Federal Refund came down from 5000$ to 2000$!

Compliance with EPA Lead-based paint RRP (renovation, repair and painting) guidelines is a federal requirement, though some states administer the guidelines.

Without a governing body of some type, the competition can get too fierce and the RE sales and rentals game becomes cut throat.

They make tose documents so long and complicated, God only knows why, perhaps so some morons could have high paying government jobs, who knows.

I tell all applicants that federal law requires me to take an application from anyone and everyone who wants to apply.

Unlicensed Property Managers are not governed by anyone and have a greater potential for costly mistakes. 5) NEVER accept partial payment once a Dispossessory is filed.

This has the effect of ensuring that any legal actions against your local LLC's are governed by the holding LLC states's laws, which may be far better as pertains to charging order protection, for example.

I spent $ on inspection, survey, HOA application fee, HOA governing docs order fee, etc etc etc...and it didn't matter if I had a buyer agent or not.Actually in this deal, even the listing agent could not get a hold of the title company.

Although, I have seen furnished multifamily housing situation for traveling health care professionals, government/state employees, and students.

But as I take it that is not one of your current likely options, for what it is worth I would analyze this problem along the following lines: (1) list out all the steps the government people are suggesting you need to go through to get this done, (2) evaluate each step for cost, likelihood of success, etc. (3) obtain as much information as you can about each step including estimates from professionals where possible, (4) evaluate the entire process for cost and chance of success based on your limited information, (5) compare the cost evaluation you have determined, with the potential gains to be realized from your development (6) determine whether the risks/costs outweigh the benefits (with your limited information, including a conservative fudge factor in the numbers).