I recognize that my "plan" is very basic and isn't really much of a plan, so what I'm hoping for, from you all here, is some help with the fine-tuning or even re-focusing.

I think the key is understanding how to recognize potential value in teams and properties, plus a good understanding of how to use money & leverage.

I think between the semi large companies that exist hear and the norarity sookane has gotten as of late from various widely recognized magazines as top places to live that’s still affordable is attractive to residence. 

Does anyone know if the VA recognizes this as a separate house or would they consider this a 3 unit property.

IRS recognizes that plenty of people run home businesses now and this is not the red flag it used to be. 

I recognized when reviewing the performance on one of my rentals that I may be overly insuring my property. 

California does not recognize series LLCs.You also want to look at whether a pass-through entity helps your bottom line and your taxes.

Unfortunately with the limited knowledge and experience you have, you shouldn't gamble on making a deal without this information.

- do steps to develop need to be taken in order for this loss to be recognized?

We should have recognized the early signs, one of which was rental coming in later and later in the month.