The owner is living in the ADU and renting out both levels of the main house on AirBnb.

If you are NOT running a trade or business - 1099s are not required.The main reason why you WANT to be "running a rental trade or business" is your eligibility to claim business overhead deductions, such as marketing, education, technology, and so on.

IDEALLY, we would like to find a property that has or is capable of being converted into a “mother in law”, “ADU”, “Casita”, or any other separate living quarters in which we could rent out the main portion to a tenant (short term or long term) and then use the separate space as our own for when we come and go with business.

Your tenant's friend will probably just draw it from whatever nearby circuit thay can tap into most easily.....So running a new 14/2 cable from the main panel will probably not be easy unless it is really close.

The power of leverage is one of the main benefits that distinguishes RE from other investment choices, and the refi is where real wealth is made.

The main thing is to find motivated sellers before they list their homes with a Realtor.

My main concern about actual house hacking for a few years in a row is that we don't want the kiddos to have to change schools once we relocate up there.I'm thinking about getting an appreciation-oriented duplex/triplex in a pricier market with good schools that we could stay in for several years, and saving for an actual cashflow property that'd we buy as an investment property instead of a house hack.

Study other investors winning strategy the same you would study a sports teams winnings.

Quote from @Tanner Lewis: Hey Chelsea - I'm pretty active on the lending side in the Smokies since it's mainly rural STRs.

There are other communities that would have better opportunities to cash flow.Although there is no guarantee of future income on any STR, I believe that 2025/2026 we will see a good increase in travel, mainly due to EPIC opening and the overall attitude of 'the people' coming off of the election.