That is what 1% of the $40,000 down payment costs were from when we refinanced it and started this process in Jan 2022.

Since it is no longer used as a long term rental, do I need to pay depreciation recaptur.You will not need to recapture depreciation at conversion.

The reason I say this is that no matter what your remodel if you are doing a lot of the work yourself (way to max out equity growth) then maybe look for an even larger remodel than you had thought about? 

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

Now we are in 2025 and although I still own the trucking company, it has been an inconsistent pit that has technically brought me personally no profit.

@Nithin Thampijust post the numbers here and you'll get lots of feedback... no need to pay anyone

I’m ready to buy mi first duplex/triplex for a house hack and wanted to go the FHA loan route strictly for the low down payment of 3.5% I’ve been self employed for exactly 1 year now, but the issue I’m running into is that every lender I have talked to (over 9 lenders now) have told me I need to have at least 2 years of self employment in order to get an FHA loan or any loan that requires under 10% down (even if I made good money my first year of self employment) I have 780+ credit score, no debt, no loans, no monthly payments on anything.

When we bought it, we made sure there were no leasing restrictions in the HOA rules.Now, we’re are notified that the neighborhood is pushing for new leasing restrictions, and it’s not just about Airbnb—it seems like they’re trying to limit long-term rentals as well.

If there was no crack before the tenant moved in, then you can make the case the tenant caused the damage.

I went out that night, reset the breaker and the furnace - heat came on and worked no problem.