With extras the original owner paid the hefty sum of ..........$ 6840.00 .    

We have 3 extra bedrooms since its a 4 bd 2.5 bath and we are going to rent out two of the rooms for $700/door so total money out of our pocket every month is only $400!

If you're getting difficult tenants, then you can run into many, many problems and it's seriously not worth it the extra percentage on the cap rate you could get. 

If you have properties that are cash flowing, banks will normally recognize the extra income after you have owned the rental investment for two years.

Professionally, I'd figure out what you need & build and then "save" (aka "not use up") additional land for the NEXT expansion versus utilizing it for extra-wide driveways & aisles.Also, is anyone helping you design this? 

I assume the $200k house will actually cost me an extra percent or two in fees and closing costs (making the mortgage more like $154?). 

She has been paying me extra here and there to "save up" to replace the floors that were damaged. 

They've asked if I have any extra deals to pass them their way and vice versa.

You and your other investors can avoid the 1065 filing requirement and just split income and expenses on your schedule E(s) for your individual return(s).You may have very good reasons for forming a partnership.

I know of a few people that rented a dumpster and tore it off themselves, generally there is a small extra fee for potential asbestos siding.