@Darrius LloydTo start your house hacking journey, research neighborhoods with potential for multifamily properties and balance affordability with tenant quality.

However, ensure you understand the local tax structure and any potential future changes.Economic Dependence: While Albuquerque has a diversified economy, it's worth noting that government and military jobs play a significant role.

If your giving away 30% of Gross, that severely eats into your potential profits. 

However, if the loan is assumable, that could also be very attractive to a potential buyer and could end up driving what they pay you higher. 

I had been discussing this property with the owner for a while and saw its potential—distressed but with strong fundamentals and built-in equity.The deal was a great opportunity to apply creative financing, secure a property with minimal upfront capital, and build long-term cash flow.

A lot of qualifying questions for any potential tenant.Having said the above, I ask for some "standard" things, such as the names of everyone who'll be living at the unit.

As interest rates rise, they naturally cut into potential cash flow on a property.

Some IRS agents may still require filing Form 1065 for 2024, so be prepared to file for this year before transitioning in future years.For Question #3 on Form 8832, you are correct that it asks whether the entity has more than one owner.

More people moving to a city is more potential tenants. 

This deal stood out due to its strong resale potential and minimal risk.