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Updated about 4 years ago,
Advice for House-Hacking in First Purchased Property
I am 24 years old and have a house in mind that I am looking to purchase a property and house hack. It was originally a Duplex but the last owner converted it into a single-family. I am looking to convert it back into a duplex.The kitchen in the upstairs unit was removed for a laundry room. It should be fairly easy to convert back into a kitchen, I would assume, although I have essentially zero handy-man skills (Looking to improve, however.)
The location is almost perfect and I can't believe I found a place in this great of a spot. Very Close to the nearest downtown.
For Rental purposes should I form an LLC to collect rental payments? I plan on using a conventional loan with 3% down in my name. Is this the right move? Is there anything else I should be thinking about?
Thanks in advance!