Aside from it being more conforming, you need to consider that buyers will not want to be carrying groceries up a flight of stairs to the kitchen and having living space above the bedrooms causes plenty of foot traffic noise below for those sleeping.

He told me it was less than a college education....oh now I can sleep at night...whew!!!!

A fairly high percentage of those owners might be losing sleep at night worrying about the fate of their "illegal" units. 

I cannot take the initial "business start up "deduction of $5000.2. all repairs and supply costs from April to July need to be added to the initial cost basis and depreciated over 27.5yr.3. all appliances, blinds, lights etc are depreciated from the July 1 "placed in service" date.4. all supply,repair, maintanence costs after July 1 are deducted this year Thanks in advance for any input...I'm a newbie at this so please be kind.All good questions and fortunately ones your CPA should be able to answer in their sleep.1.

Not too complicated and most of it is standard boiler plate but I sleep better knowing that mine was reviewed by my attorney

@Marc WeisiIf you want to be an investor primarily, I would say go the agent broker route.As an agent, you will come into contact with more buyers sellers investors.Networking is the key to investing.You can pick up construction knowledge as you go.Home inspection may lead to greater more predictable income out of the gate, but long term assuming your goal is to scale up investing than in my opinion becoming an agent is the way to go.At the end of the day, it comes down to what you want and where you want to be 5 10 years from now.Nothing against home inspection but that is trading your time for money.Investing is making your money work for you while you sleep.

Give up TV, sleep less and work on your days off.

If this doesn't have a 3fam Co then you cannot rent the space for residential use (aka sleeping quarters) and most likely does not have a legal kitchen or bathroom.

Ok, sorry very little sleep last night.  

Buy insuance and sleep well at night.all cash