Determining whether the venture falls under a service or rental business hinges on the provision of substantial services; for instance, if a bed and breakfast service is offered, it must be reported on Schedule C, triggering a 15.3% self-employment tax.Moreover, personal use plays a crucial role in the classification of the property.

Your expertise and experiences are appreciated as we navigate this new venture.

Determining whether the venture falls under a service or rental business hinges on the provision of substantial services; for instance, if a bed and breakfast service is offered, it must be reported on Schedule C, triggering a 15.3% self-employment tax.Moreover, personal use plays a crucial role in the classification of the property.

Hey @Fadela Zaoui - if its a court ordered sale... unlikely sellers would entertain seller financing, but the answer's always no unless you ask :) I recommend working with your broker to figure out what the sellers really want - sounds like one of the sellers wants to cash out so they may not be the person that wants to do seller financing BUT the other seller may be open to it.You could also potentially look at a joint venture option where you just buy out the seller that wishes to sell her portion, and partner up with the other equity holder who now gets to retain their piece of the pie. 

@Austin SargentHouse hacking is a fantastic way to kick off your venture into real estate investment, particularly with a duplex in Pensacola, FL.

As for tax strategy, definitely get a professional onboard for these capital ventures to analyze them with you.

Whether you're looking to dip your toes into the real estate market as a house-hacker or you're a seasoned investor seeking your next big venture, I'm here to guide you every step of the way.But that's not all.

I mainly focus on New Jersey, New York, and Maryland for opportunities.I'm all about creating Joint Ventures with capital partners for mutual success.

Multifamily investing can be a lucrative venture but requires careful planning and understanding of the real estate market.

Good luck with all your future REI ventures!