However, this method still carries reassessment risks.A revocable trust set up by your aunt (after your stepfather quitclaims his interest) is likely the simplest and most tax-efficient way to ensure you eventually own the property while avoiding property tax hikes and probate.

If major foundation work, you should wait 1-3 months to do the full roof replacement (depending on the method and how much was done).Example: If/when we do a full residential roof replacement, if major foundation work is done after that, any/all warranties are void!

Commissioner, 73 T.C. 766 (1980), specifically confirmed that rental management activities can qualify for the home office deduction, regardless of passive income classification.Key Considerations: 🔑The space must be used ONLY for rental managementNo personal activities or other business uses allowedMust maintain solid documentationActivities should be regular and substantialPro Tips: 💪Consider the simplified method ($5/sq ft, max 300 sq ft)[Rev.

Each lender can use their own methods of qualification on commercial properties, and most look mostly at the asset (with the exception of your FICO, experience level and reserves). 

Also do the enemy method (dot com) to suss out your competition. 

. 🎢 Market trends, investing methods, and economic situations are like a rollercoaster—they constantly change and twist.

We are working on our first flip house and we didn't plan to do the BRRRR method, although it has come up in conversation multiple times due to the area it is in, we are still tossing the idea around of keeping it as a rental.

If these strategies do work, what types of deals or financing methods are commonly used?

Does anyone have a checklist or some sort of qulifiying method? 

Love the house-hack method!