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Updated about 7 years ago,
Work related house hack
I work in the construction industry and am currently working on an out of town project that will last at least two more years. I spend a week or two a month at the out of town location and I'll get reimbursed for living expenses while out of town. I plan on buying and staying in a single family while there, with another part time co-worker housmate, and then renting it when the project wraps up.
Any thoughts on structuring the deal as an LLC vs owning outright?
Also, thoughts on maintenance/repair issues that may come up while I'm out of town and the unit may be vacant?
Will this qualify for a principal residence loan rate, or will it get treated as a rental property regarding a loan?
Any other thoughts/advice would be appreciated.