It will be a business and will be taxed as such.You will need to get with a CPA in order to quantify those differences.

For the past year, my business partner and I have diligently met weekly, exploring our options in real estate investment.

In my mind this negligent behavior from standard business practices has negatively impacted the operations of the property. 

I hadn't considered it since the project will likely be no more than a few days.Future dock injuries are already something I'm planning to cover through a different policy associated with the business operations and unfortunately, you can't get a dock warranty on something like this.

Reason being, real estate, transactionally, is a pretty slow business. 

Make sure you review those before buying so you aren't stuck without a, legally viable, business strategy. 

Problem is, the lenders my Realtor has done business with will not do a loan for a studio.

I'm looking into some better guidance into tax planning and a new CPA as I grow my real estate business.   

The historic preservation tax credits are federal tax credits that encourage property developers and owners to rehabilitate and preserve historic and non-historic buildings used in trade or business or held for the production of income.

My wife and I had 2 long term rental properties in the past and sold them due to other business endeavors.