Hi Nick, It's a little difficult to say because in the ad and your post there is no indication of what the expenses for the building are.

Another item to consider is an office location that is convenient and has minimal distractions.You can locate your office in your place if you can close it off and has minimal distractions.  

Thanks for your help -would you be able to provide the bank information you indicated you could recommend for a HELOC loan on an investment property.

I have several questions ranging from minimizing gift tax up front, to the potential of getting US based equity lines against the property priced as a commercial asset (We're going to be renovating the building into a 7 unit complex).

With a term lease you are forced to either evict, which is costly, or wait till the lease is up to non renew.I believe term leases are a bad deal for landlords, as most tenant problem posts on BP clearly indicates, and therefor do not offer term leases to any tenant.

The more you buy/sell, the higher % you keep, depending on your contract with your broker.You're probably best off at a small local firm where you can pay minimal fees, get access to MLS and basic supervision, and aren't required to pay $600/year to local/state/national association of realtors (NAR).

The record should indicate the amount of miles and the business purpose, .  

They say that the only way around this is for me to indicate that this property will be our second home. 

He says the house "Needs minimal work, brand new roof, needs new AC, electrical needs in the basement."

it will have to be turnkey...how do we minimizer risk in determining property mgt, area, etc?