All Forum Posts by: Account Closed

I just closed on a SFH rental in an area I'm familiar with. I closed the deal myself. For more propeties I've contacted three agents from different Brokerages and all three have given me the "thanks but no thanks" routine. I am a very self-aware person and I really don't think I have come on hard in any of the inquiries. In a nutshell, they contact me after my initial inquiry and they're all excited, asking me what I'm looking for and at what price. And when I tell them I am looking for a 3br 2ba rental home, they boogey. I've bought and sold two homes on my own without the use of an agent. This is the first time I'll be trying to use one. I guess I'm experiencing the sentiment I often see -- that agents are averse to investors. Any thoughts?

Great endeavor

Gotcha. I'm just trying to keep things all legal and also avoid the taxes to the max extent given my somewhat unique situation. It's important I add that as part of my inquiry as I realize there are plenty who go about things the wrong way (illegally). I see your point and I only referenced your comment to make clear I'm looking for advice on an above-board situation so that any further help here would understand I'm not fudging numbers. Thanks for your thoughts, Patrick. 

Appreciation to all for the input. Michael Plaks, that's exactly the answer I was hoping for. Yes the rent is at market. I'm only at the house for a few weeks per year as I live abroad for work, so legally it's my domocile. I'm truly not doing anything iffy here legally which I think was implied by another poster. I have a unique career situation. I suppose the next question is how to document which parts are the 60 and 40 or whatever the ratio may be. 

I am doing a house hack on a SFH where I have claimed legal domicile for many years. There are already renters in place -- family. My mortgage is for a primary residence and not commercial or rental. The house needs some major rehabbing, to include a new leach field, new windows, new bathrooms and other incidentals to which I will apply about $15K to start. I understand I can live in the house as a primary resident and also collect rent as a landlord, essentially house hacking but in a SFH situation. I am wondering how the depreciation schedule will work with respect to it being partially a rental. Can I depreciate the repair expenses even though I'm the primary homeowner/resident? Maybe I can do it as a percentage. Can the expenses be cost segregated/accelerated or would they go toward the straight-line depreciation? Most of the expenses if not all would be on the shared part of the house.