If you are in an expensive market like the Bay Area, target units in cheaper (but still safe) areas.

The construction cost seems cheaper than I thought.HELOC is a good option for short term funding.. and there are max limits.. may be $400K or $500K something you should consider since it exceeds your expenses.

It seems to be a need in the area and its much cheaper than a standard motel for a month.

I don't think it really matters what you record in QB if you need this for taxable income purposes, your accountant is going to make whatever adjustments they need to make anyway.The only depreciation tracker I use is the fixed asset schedule my accountant provides with my tax return.

Just be aware, even if you house hack there's a good chance the other rent is not covering all your expenses or even your mortgage payments, but it should make your living costs cheaper than a single-family home you just buy to live in.

I would even demand he stop work on the renovation so you can put it in the hands of someone that understands the importance of communication, fiduciary responsibility, etc.Remember: cheaper doesn't mean you'll make more money.Start by going to www.narpm.org to search their directory of managers.

Here’s a quick rundown on how things could work with taxes:1.Depreciation: You can write off depreciation on the units you rent out, which lowers your taxable income.

Obviously we are tempted to try the cheaper option, but we know there is a catch, it's that cheap for a reason.

The 1K a month (12K annual) will be reinvested into the property to minimize taxable gains in total portfolio and increase the value of the property.

When furnishing my first STR, I leaned towards cheaper goods as I had just spent a ton of money on the acquisition, and learned my lesson quickly.