I wish you luck as you try to sort it all out

Do you continue to collect the rent from your newly gained tenants in this business account in a separate account from your funding and then sort that into multiple Repairs & maintenance accounts, Capex accounts, etc.

I sort of thought that.

I am sort of with Kyle J. above.

The police are given rules that as long as a person has slept overnight, they may be some sort of tenancy rights.

You now have to pay regular income tax on that $21k (depreciation is sort of an interest free loan), at your income tax rate, up to a max of 25%.That's it in a nut shell......from a non tax professional layman.

Without taking on some sort of risk, more often than not, your return will be minimal.

During the showings and final walkthrough, the sellers still had all their belongings in the house because they were a large family and needed a rent back period to sort out their moving plans.

I know that a lot of people do well there but these sorts of moves are why I stay away.

All sorts of rehabs/conversions can turn a total loser into a cashflowing property. ...another example: I've built ADUs in previously unfinished basements, which turned properties that were $500/mo negative into properties that now cashflow 1000/mo ...the power move was rolling the construction debt into refis on other properties at lower rates, which more than negated the construction debt...in other words, I got paid to build the ADUs (these days, this isn't usually possible--or at least, it's a lot less likely--now that rates are rising...but who knows, rates might decrease again at some point...). ...Although certain rehabs/conversions can force cashflow, there is real skill and art to spotting properties that are good candidates for these types of rehabs/conversions. ...an effective rehab/conversion is often a lot trickier than HGTV would have you believe, and choosing the wrong property to do this can completely blow up the financial model.Another approach is to learn to find properties that have something that turns off other buyers, but which is irrelevant to cashflow, and irrelevant to your business model.