It works great for my building in Boston where the tenants are mostly 20 -30 year old young professionals.

My non-professional understanding of basis:Your basis is the purchase price, including acquisition costs (except any that may be deductible as expenses in the current year) plus the amount you spend on the property to put it into rent ready condition.

I'd also include professional fees..accountant and legal as well and a monthly repair and maintence exp as well.

Unless of course you will be primarily attracting the young, educated and professional crowd.

Also, before you buy, you should obtain a Phase I Environmental Site Assessment.

How can you or your professional network help me with entity structuring, retirement/estate planning, business analysis, etc.?

I am not an attorney or tax professional and below only represent my personal opinion.

I have found that most are leery due to the HOA and special assessments.

First, I am able to buy at less than 30% of tax assessed value.

Now that my kids are older, I want to be professional about it, have fun(meet challenges), and use it as a way to achieve financial independence.