Hey Barbara, I have a property manager I can recommend for the LAIC service.

Using 50% rule (expenses excluding P&i is 50% of rent) here are the numbers;1800 (rent) - $900 (expenses) - 1468 (heloc) = negative $568/monthAt your rent point with that size unit, your expenses will ve less than depicted by the 50% rule, so let’s use a likely more accurate 40%1800 - 720 (expenses) - 1468 = negative $388/monthNow let’s imagine you self manage and you time is not worth anything (I strongly recommend believing your time is worth less or worth less than a quality PM would charge) with 8% further reduction so expenses are down to 32%1800 - 576 (expenses) - 1468 = negative $244/month. 

Needless to say, as you mentioned, that is no longer the case with current market conditions.I'm biased, but I recommend exploring and considering the option of vacating both units and renovating both sides for PadSplit.

Hi Matt, Good luck on your remodel project, I'm going to second John on this one and recommend less is better in this situation.

I moved to miami florida to study the economics and help apply it and it was a capital market as well. if you don't live in a capital market like Chicago, New York, Austin Texas, Los Angeles, San Francisco, california or miami florida I'd recommend moving to a market like that too. it will change your life. 

DIY tax software like TurboTax may not handle nominee interest, depreciation, or LLC structuring correctly, so working with a real estate CPA experienced in sub-to deals is recommended.

Could you recommend where I can start looking?

I haven't dug into the actual agreement, but was curious because I'm not in a position to house hack, but see many people on here recommend the strategy.

I recommend you speak with him. 

Anyone with experience that can recommend a path forward?