I appreciate the response.I do have a couple of follow up questions.One of the big concerns is the high property taxes.

Another note about the Architect, if an Architect has to supersede the prior Architect of Record, this brings on a lot of liability since they weren't present for the construction and didn't create any of the documents. $12k is super low in that case. 

My CPA had a letter in my tax prep documents that says that those with W-2 income can't deduct business mileage anymore.This is the first I had heard of this.

I am new to tax surplus and I want to know how legal is it charge 30-35 % finder fee especially when the "state" puts a limit on unclaimed property of 10%.

Assuming your prediction of increasing values is true, that will also increase your property taxes. 

A couple of my favorites are Opportunity Zone Tax Credits and Low-Income Housing Tax Credit (LIHTC).

Also, it will also apportion the profit/losses via the K-1 distributed to each of you come tax time.Good luck.

Reno is a booming city with tons of tax incentives being offered to businesses and of course the tax free status offer to owner-occupants.

Liability is a concern, but also this creates a different relationship between LL and Tenant.

If a property makes 12k a month, insurance and taxes are 2k, then you would have 10k left.