First-Time SFH Househacker in Houston

[Fernando Martin-Gullans]

Hey BP Community,

I'm brand new to REI and am under contract for my first property. It's an outdated 3/2.5 SFR two minutes outside Downtown Houston. I intend to update it to rent standards (all cosmetic repairs I intend to do myself-wish me luck) and live in one bedroom while renting out the other two. I read Craig Curelop's book on househacking, but was wondering if any of you had some firsthand experience with doing so yourself, particularly in regards to tracking expenses and boarder income (by the room), following and making the most of tax laws (I'm completely clueless), and just overall getting the most out of your househacking experience.

I look forward to hearing whatever you all have to say, and hope you're all well and safe in these trying times.

F