Ask the property owner... hopefully they have a copy of the as-built drawings/surveys.As for those docs being on file with the governing municipality... no cut and dry answer on that.  

for the time being I need dry wall and plaster work but in the long run I want someone who can help me while I'm working on an investment. 

This ties in with another post I have about how the deals seemed to have dried up in Richmond, Va.

Technically it's a dry closing for a period of time.

Likewise, when you deed the property to someone else, the value of the property you gifted may trigger a gift tax return for you.If money changed hands, that is if you purchased a property the seller will have a capital gain or loss that may need to be reported on the seller's income tax return.  

Bottom line is to visit with your lawyer before pulling the trigger.

when it dries, it will go away. 

We actually rented it for more than the mortgage of our new house so we still had no mortgage and positive cash flow.Deals are out there you just have to look hard and not be afraid to pull the trigger.  

You don't need to be a real estate professional to claim depreciation, only to claim passive losses beyond the threshold that applies to others.Even though I work out of my home, I don't claim a home office deduction, since it seems to be an audit trigger, and I don't want to expose myself to that much hassle.

You will not be able to take conventional financing straight with an LLC, and if you transfer the property to an LLC after closing, you could trigger the due on sale clause.- buy and close the property in your personal name (without your partner)- transfer the property into a grantor trust or land trust (this is allowed and will not trigger the due on sale clause)- assign the beneficial interest from the trust to the LLCIf your partner is contributing any of the downpayment, it gets more tricky.