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Updated about 4 years ago on .

User Stats

6
Posts
1
Votes
Tracey J Shanklin
1
Votes |
6
Posts

Owner-occupied duplex living on one side biz space on other side

Tracey J Shanklin
Posted

I purchased a duplex apartment as place for me to live and to provide rental income, therefore reaping the benefits of having the tenant pay my mortgage.  I am having the tenant move out in February, (she is section 8).  I am wondering how and if it'd be feasible to turn the 1.5 BDR apartment next door into a business office space for my business and be able to either gain a tax write-off that's beneficial to me or what would my options be in order to realize any financial benefits that would help offset the expense of mortgage, maintenance and utilities, as opposed to renting to another tenant?  Perhaps I could rent it as a small business incubator or temporary space?  

Thank you for your answers!

  • Tracey J Shanklin