Hey @Matt Smith 👋🏽I agree that it's not worth renovating the basement - too costly.

Also these things cost money to sell - agent fees (5-6%), whatever your buyer is going to ask for at closing or try to hit you at during inspections (likely several thousand) plus taxes.

Since you're using an FHA 203k loan and house hacking, focus on managing renovations efficiently to avoid delays and unexpected costs.

House hacking is a great way to build wealth while keeping your living costs low.

==========================My relative is asking if this is a viable way to legally avoid having to pay taxes:STEP 1: SELL PRIMARY RESIDENCE (House A)-Sell primary residence to son-in-law for cost basis + $500K-File gift tax form for difference between sale price & market value-Not pay capital gains on $500K due to personal exemption.STEP 2: SELL RENTAL PROPERTIES-Do 1031 exchange and buy House A back from son-in-law-Rent out House A for 1 year before move back in==========================Thoughts?

Quote from @Michael Poloncic: Three individuals signed a lease together, all friends, the lease is set up where each of them are expected to pay 1/3 of the rent.

They cost slightly more than the normal permitting process, but I usually have permits in hand in a week or less.My GC is has some experience on Coronado, if you would like I can connect you, so you can get his opinion as well.

By year three, I aim to cover all operating costs and, by year four, to generate positive cash flow.Experienced investors say it’s crucial to persevere through the initial challenges while gradually building credibility through positive reviews, and I believe them.

These traditionally have lower rates than cash-out refinances and will only cover your existing loan amount + closing costs, so you'll need an existing mortgage for this type of loan.4.

I've done this on one house in order to cut costs - since then, I've added a meter with the utility company but it's a good workaround for the short term.