Purchase price is about 280k I would put 20% down so loan for 224kTaxes are about 5k / yearInsurance is 2800 / yr escrow or 2500 in fullMortgage rate 7% credit score 760+Mortgage is $ 2150 ish. +/- 50$Current rents are 1000 per side which they say is low because it's paid off for my family member They say market rent is easily 1200 per side I would likely inherit a tenant on one side at 1000/mo , older retired single guy So if I house hacking and pay 1200 and raise their side to 1200 it's would cash flow about 150$ not including maintenance so.

In terms of incomes I use the 30% rule.  

Unfortunately the short and mid term markets are slowing down.

I imagine there are some people on here that have used small business loans for this type of business or any business in general starting out.

Set Clear Terms – The tenant must leave the unit clean and undamaged, return the keys, and not cause further issues.3.

Because flips are considered inventory (not capital assets), profits will be taxed as ordinary income rather than qualifying for long-term capital gains treatment.For tax filing:Report expenses like construction costs, permits, and interest as part of your cost of goods sold (COGS)—these won’t be deductible until the property is sold.Since no revenue is expected in 2024, your S-corp may show a loss, but that loss won’t reduce personal taxable income until the sale occurs.Each partner will receive a Schedule K-1 every year, including 2024 and beyond, as long as the S-corp remains active.Unlike an LLC, S-corp shareholders do not pay self-employment tax on their share of profits.

A more holeistic approach is needed: long term wealth is mostly created by principal pay down and appreciation.

It ain't that hard and is a far better product as far as long term durability.

Hello all, I have a long-term tenant that's been with me for over 10 years.

When you buy determines your short/long term capital gains.The "in-service" date = The point in time when you can start taking depreciation from.