Updated about 6 years ago on . Most recent reply
First rental property an advice
I am closing in three weeks on a 5 bedroom 4 bath home. I'd like to get 2 or 3 roommates to help me with the mortgage payments. Any tips on how to do this as far as federal tax returns, what I can deduct, what I have to claim as income? Any problems with zoning issues for having non family members as roommates, whether i should have them sign leases? etc. I have never rented out rooms or owned a house before and all advice appreciated .