Property taxes and rentals
I’m looking to buy my first home (house hack). I’ve been looking for over a year and a question popped up in my head.
If I buy this house (single family), live in it for a year or two so I can save more money renting out the spare rooms then buy another property once the first is stabilized. How will the numbers change once it's a full fledge SFR ready for market?
I’m imagining a scenario something like this-
I purchased a house I thought was a good deal and a great monthly mortgage leaving plenty of savings and cash flow. Repaired everything that needed to be done to make a solid rental. Only to find out that once I convert it to a rental property the property taxes skyrocket and eat up all the cash flow.
Do property taxes go up substantially when converting a home to a rental property? Is there any way I can foresee what will change so I can figure it in to my analysis?