But going back to @Jeff Sprunger comment, does skin in the game specifically refer to liquid cash that you personally have available to use for the project, or could that also include personal loans taken out in your name to show that you have a vested interest in the success of the project?

Thanks for you comments!

Does anyone have any advice/comments on purchasing single family homes that were converted into multi family apartments?

@Chris @Chris Mason and Thomas S. thanks for the prompt response.Can you guys also comment on the income tax obligations on my side as well for either options?

Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meetSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meetSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

It allows for better conversation since many times comments spawn additional information that adds depth to the thread, which also bumps it as far as activity goes.

Here are some of the answers/comments to your questions: -As a sole proprietor or a single member LLC you will file your rentals on Schedule E of the Form 1040.

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There were just too many of them.Please understand I made this comment, without any racial bias.