I hadn't considered it since the project will likely be no more than a few days.Future dock injuries are already something I'm planning to cover through a different policy associated with the business operations and unfortunately, you can't get a dock warranty on something like this.

Problem is, the lenders my Realtor has done business with will not do a loan for a studio.

I'm looking into some better guidance into tax planning and a new CPA as I grow my real estate business.   

Make sure you review those before buying so you aren't stuck without a, legally viable, business strategy. 

My wife and I had 2 long term rental properties in the past and sold them due to other business endeavors.

The historic preservation tax credits are federal tax credits that encourage property developers and owners to rehabilitate and preserve historic and non-historic buildings used in trade or business or held for the production of income.

He was netting 30,000 monthly with these running 24x7.My goal is to assess the value of business without game machine license and with gas.Scenario 1:Terms if I assume his lease and pay him off at 250,000.Rent 8200 (somewhat negotiable)Utility 1500Payroll 6000Insurance/internet 350Current Inside Sales: 45000Current lottery commission: $3000Gas when pumps were working: 20,000 gallons at 30c.Based on these numbers, I am guessing he is putting money into this business without working pumps and no game machines.

I recommend consulting an attorney who specializes in business and real estate law before making a decision.

I'm also in the process of trying to find a good CPA to create a relationship with to grow my business with.Hopeful to hear fellow STR, or even MTR, investor's stories, what PMS or programs they're using, and how they landed their first property or what they're doing to get into one!

Privacy laws here in Canada would make a skip tracing business quite a challenge