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Updated about 7 years ago,

User Stats

6
Posts
1
Votes
Gregg Madison
  • Investor
  • Round Rock, TX
1
Votes |
6
Posts

Work related house hack

Gregg Madison
  • Investor
  • Round Rock, TX
Posted
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.