The rent takes 6 days to deposit, so they make money on the float, which I'm fine with since it doesn't cost me anything.

Either need more or doesn’t.  

Kitchen doesn't look renovated.

Scarlett, to put it simply, if you’re running something like a hotel, motel, or similar business where you provide substantial personal services, the IRS doesn’t see that as a rental activity.

So now you get a buyer and maybe another agent on the buyer side who doesn't understand the risk. 

The right financing doesn’t just fund opportunities, it empowers you to step into the next level of your journey.What’s one lesson or personal growth experience real estate has given you?

Not to say that it doesn't work, because it does.

I'm sure his bad credit doesn't help eitherWhy I suggest construction escrow, so he can’t rip off the money.

I've been told to have my wife claim REPS but she's a stay at home mom and not involved in our real estate activities at all so that doesn't really seem feasible. 

The fact that it doesn't really cash flow shouldn't be worth the possible headache.