Househacking a private room with bathroom

[Daniel Forero Pineda]

Hey all!

I live in Westchester County, NY, and I am considering taking a room in the corner of my house on the first floor and turning it into a rental.

The infrastructure is already in place where I would only have to put up a few walls to keep it separated from the rest of my house, but it is a large room with a closet and bathroom that I would like to rent out.

It may not be much but I feel like this would be a step in the right direction and a good way to practice being a landlord.

My question is: What kind of tax implication would this have on me? (Is there a way to avoid or defer paying taxes on that income? Could I use depreciation on that room?) Also, I am wondering if I need some sort of permit to do this, whether for putting up walls or renting out?

Any feedback is greatly appreciated! Also, if you are an investor from the Hudson Valley in NY or nearby, message me to see if we can find a way to work together!

Thanks