@Lana Lee - if you are going to do your own tenant management inside the City of Philadelphia (and I do encourage you to do so), I highly recommend that you join HAPCO; you will receive a manual that goes into some of the quirks that exist within Philadelphia's landlord tenant regulations.And I recommend you also join DIG http://digonline.org/DIG members get discounted rates for screening services (I use TenantReports.com where I get a bundle of credit reports plus nationwide criminal and eviction reports for $25 plus sales tax as a DIG member), plus DIG has some training classes that you might find of value - Don Beck holds a landlord class every year or so and you will learn a lot just from this one day in class with him.

Unlike passive rental income, the income from an active trade or business is subject to self employment tax (a nasty 15% tax commonly referred to a "social security and medicare" by working folks).

As of now all states except PA also allow you to do the same with State capital gains tax as well. 

@Jeff Graves I could be wrong, but last I checked w/ AirBnb you couldn't add the excise and TA tax as a line item.  

Friends  am from Nairobi, Kenya not from Cedar Hill,Taxas .Sorry for the inconvenience.

So theoretically, its the same tax as if we do it as partner?

Currently we make 180,000 pre tax as a couple.

Some 2nd position loans might also hold a  have a subordination which will allow them to collect and THEN the surplus goes to the first.HOA liens are different than "regular " jr liens since their Governing documents actually allows the bid winner to get a certificate of title and move right in (until 1st position forecloses).Tax as well as HOA liens survive the fcl .

Couple that with the fact that we travel a LOT and that I run a company doing business in Sao Paulo and Manila... we like being renters and keeping our mobility intact.

With respect to the law of building codes, permitting and contractors, I have to be frank--in Ohio, it is nothing more than a hidden tax, a protective tariff, and a way for the municipality to veto any development or renovation that its architectural review board subjectively considers "undesirable."