House hack questions

[Shaheen Pirouz]

I have a house hack that’s a main house with two guest houses. I’m living in one of the guest units and renting out the other two. My question is how do homestead exemptions, tax deductions for repairs, and depreciation (3k a year for rentals) work since it is considered single family but I’ll be renting part of it? Any tips and advice are also welcome since this will be my first house hack. Thanks in advance!

In TX by the way

[Shaheen Pirouz]

@Michael Plaks

You make some very good points. I would love to be at a point in my investing career where personal expenses were just a drop in the bucket, but unfortunately I am not there yet. My biggest monthly expenditure has been shelter, so my philosophy was to cut that down to zero and then put the now freed money into better investments.