Hi Mitchell,From our experience we haven't had any issues renting out properties to different residents that have a single family home and a garage unit conversion on the property.

I would then sublease the property to a new tenant for $4,300.I would take care of all repairs and any tenant related issues.

You can guess based on last year and add or subtract any changes, but that too comes with issues.

Just wondering what the implications are of changing a single member LLC to a multiple member LLC as far as current depreciation, basis, carry forward losses and any other issues. 

2- Let's say, I buy a second mortgage and lis pendens has already been issued for the first mortgage and an auction date has already been set for it.

In addition, there is a separate issue if you lost your principal investment.

We heard early on that Encore's values weren't holding and that there were issues there.

How big is the land, cost to rebuild, insurance issues, economy in the city, accessibility, population.

I would also join local FB groups and meetups to learn specific issues that folks in Philly deal with.

@Benjamin WeinhartMy experience on this tax forum tells me that highly technical discussions of the Code/Regs nuances are not well suited for this platform.That said, my 2 cents is that this issue is a matter of interpretation.