The logistics and legal workings to do that would be massive and not worth the hassle, more than likely.So what Ron noted is the best option.  10% might not be the right number based on a ton of factors: not just the excess land, but similar. 

If you value stability more or cannot commit real hours, it may not be the right move.Also, look at unadjusted basis of the property to run number if the cost seg actually make sense.

Or complicated LLC structures in some cases.But if someone is contributing money to such an LLC where the performance of the investment is dependent on the efforts of someone else, the investment is considered to be the sale of a security.In your example, you and your partner want to buy property and raise money from investors.

What would be the best route?

The hassle of screening dozens of unqualified applicants — and then dealing with a lease break after five months — is making me think that short-term rentals might actually be the safer and more predictable option in this market.Would love to hear what others have experienced with year-round tenants on the Cape.Thanks!

If I purchase the home my plan would be to convert the basement to it's own dedicated unit by installing a interior wall which would separate the main floor from the basement so the exterior entrance would be the only way to access the basement with it's own dedicated path on the outside of the property.

This will be the best path forward.

If you can reach the right person, you may be the only buyer they talk to.

At the end of the day, these numbers we come up with are estimates meant to be the minimum recommended coverage to replace the dwelling.

To do that, I realized I had to stop operating like a "mom and pop" landlord and start building better systems.Solving the Vendor Shortage: Like many of you, I found reliable trades to be the biggest bottleneck in this region.