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Updated over 5 years ago,
Partial rental of primary home
Hello Biggerpockets! My first post on the forum and still learning about real estate and being a landlord. I am planning to rent out my primary home on rent for 3 months and living with another friend in the duration - why am I doing this? well, I will be heavily traveling for those 3 months and I am able to command a pretty decent profit on the rental, and I can use the spare cash ;) (great tenants - 760+ credit score, 4x income etc.).
I would like to pick your brain on:
a) I currently have homeowner's insurance on the house. How should I my insurance change for the three months?
b) What are some considerations for tax purposes?
c) Any other things I should keep in mind?