Single Family Home With Guest House Rental

[Account Closed]

I am in the process of purchasing a personal residence and my broker came across an interesting property. This property is a SFR with a "guest house" on top of the detached garage. Would this property technically be considered a duplex? The "guest house" rents for $1,000 a month. How would that income be considered or taxed? What could I write off or use as a deduction? Would other considerations or tax implications can this property have?

Thank you for your help!