Renting To Live in from your Own Vacation Property Company

[Wade Alderson]

I am working on my 5 year plan. So far everything is in pencil and is pretty black and white. 

1st, learn to dive 18 wheeler truck and become long haul trucker

2nd live in truck most of the time to save up for investing in multi unit property (using FHA loan) cash flowing $200 per door

3rd drive truck most of the time and plow cash flow into property to pay down mortgage, do mortgage loan to buy more property 

4th drive truck until I have a cash flow of $10,000 per month

5th live in Florida as close to Walt Disney World as I can and start a vacation rental business

And then everything gets fuzzy. 

Right now I am thinking of taking a page out of Jason Heartman's book of life and just rent my place to live.

And that got me wondering. 

Understanding business as I do, I understand it can be done. But I wonder if any of you have ever lived in your own vacation rental rent free or did you pay the fee, and then just use it as a business write off, as you pocketed the profits?

I have like 5 to 7 years to figure this out (and business tax laws change) but as of right now I am scratching my head.