All Forum Posts by: Rachel Murphy

 What do you have to be zoned to rent a room? I talked to the county quite it bit before I started the remodel. They are the ones that told me to leave the interior door between the house and the apartment and not wall it off. They said you are not zoned multifamily so just keep the door and rent it as a room.

Maybe she was hesitant because it is a STR?

 I didn't tell her it was an apartment. I said we were just renting a room.

Two of our five kids moved out in the last few years so I decided to turn two of the bedrooms into a 1 bed/1 bath apartment. I just spent a ton of money remodeling to add in a kitchen, washer/dryer, shower, install a new door, change a window, etc. I just called our insurance company to find out what I needed to do to make sure I was covered for renting a room. Agent just told me that my insurance wouldn't allow it, nor did she know of any insurance company in Florida that would. She said none of the companies in Florida are allowing renting part of the house or renting out a guesthouse (which we also have and were planning to rent). Any of you house hack in Florida and your insurance covers it?

@Kayla G Gilchrist @Jamie Banks @Monica Pittard
Just got my first Furnished Finder tenant. She is only staying 6 weeks and giving me some pushback about renter's insurance. She said that she is having trouble finding renter's insurance that is monthly. She said Lemonade is quoting a year price. What companies have your renter's used?

 I think they are exempt for all taxes because they only made a couple of thousand, but I was told I still need to fill the forms out.

So I have been getting conflicting info about what IRS forms I need to fill out for my minor kids who work in our business. They are 15 and 17 and do landscaping, pressure washing, construction. They are the only paid employees-making a couple thousand each a year. I have been told I need to fill out w-2, w-3, 940 and 944. Any of you tax professionals have any insight on this?

 Where would it be recorded at? 

 It depends on the deal. It could be just for the down payment on some deals or maybe buy the deal cash in other circumstances.

 Does the note need to go anywhere other than a copy in his possession and one in my possession?