Hello , Im in California and a Real Estate agent just informed me that the square footage in my 2 Car Attached garage townhome is being reported improperly.After doing some research and looking at homes on the market, I noticed that some homes have Washer /Dryer,Water Heater and storage units inside the home apart from the Garage, obviously part of the living area apart from the garage.My townhome has the Water Heater,Washer/Dryer and room for storage area, second refrigerator and other Liveable areas apart form where two cars can be parked and comfortably accessed, it seems to me this STRIP of approx 3ft x 19.5 ft (approx just less than 60 sqft) should be included in the living area.I also read that the way to calculate the square footage of townhomes is not well defined. 

I will definately reach out to some property managers to gather some input from them.

What I have realized observing others and my self is that when people don't do what they need to do despite having all the resources they have 1 of 3 things really holding them back:1) Don't have a big enough why2) Haven't defined their goal and created an action plan to implement it3) Have unresolved fears and confidence issuesThough I think having a big enough why will produce the energy to resolve most issues obstructing our path to success I believe working on #2 & #3 will yield the biggest benefits for most people.

When you define YOUR process and commit to it for an extended period of time, the results take care of themselves.”

Hi @Julian Addy, once you define the areas you want to invest in, get some contractor referrals in that area and speak with them over the phone.

You need to define highest and best use.

You need lawyer.In order to qualify for the "housing for older persons" exemption, a facility or community must prove that its housing is: Provided under any State or Federal program that HUD has determined to be specifically designed and operated to assist elderly persons (as defined in the State or Federal program); orIntended for, and solely occupied by persons 62 years of age or older; orIntended and operated for occupancy by persons 55 years of age or older.

This is classic fraud as defined by the SEC, and why you need an attorney.

It may not be for the mom and pop with a property or 2 on the side to help with their retirement.If I have a big tax year, I can fund defined benefit retirement accounts to help offset current year income and have other options like a solo 401k, but for the most part you'll want to keep rental income as passive as possible to avoid SE.  

Define a tight criteria based on factors we discussed (rehab margins in my case)  and look for listings that fit the criteria.