It is in a great location and I am currently finding out if they allow short term (airbnb) and long term (corporate/tenant). 

GIGO......someone just didn’t put all the numbers in right.At a glance.....the renovations show as regular expenses, no rental income, etc.

Love the idea of residual income! 

In Texas we have no state income tax.

For example, an 8% preferred return and a split of 70/30 (70% to the investors, 30% to you) for the remaining profits.Now, as you mentioned, the year 1 and year 2 net operating income may be lower due to renovations.

We want to hold this as a rental income. 

This would turn it from a 2bed/2bath into a 3bed/3bath with potential for split rental income for future owner.

That way i can use it when i want and collect income when i'm away.So my question is is it a good idea to have a single air b and b apartment in a small multi unit buildon?

Understanding The Income Tax Implications Of Tap Home EquityPrior to the passage of the Tax Cuts and Jobs Act of 2017 interest on up to $100,000 of second mortgage debt via home equity loans or HELOCs was tax deductible no matter how the money was used.

I know advertising, marketing and communications like the back of my hand and I analyze data for a living.I don't have plans to leave my full-time job anytime soon but I'm branching out into new avenues of "passive" income.