Income would be from hunting dues and timber harvesting, expense would be conservation management, taxes, and the mortgage.

Also, there may be some tax benefits if they can qualify for federal funding based on low income. 

TERMS- Deal Type: Seller Finance- List Price: $580,000- Purchase Price: $780,000- Seller Carryback: $693,000- Total Entry: $100,000 Breakdown: Assignment: $13,000 Down: $87,000- PITI: $2,657 Breakdown: Principal & Interest:: $2,000 Taxes: $464Insurance: $193- Rent: $5,250 ($750-800 per unit)- Amortization Years: 28.88- Interest rate: 0%- HOA: NONE- Balloon: NONE- EMD: $5,500- COE: Feb 12, 2025- Occupancy: Occupied, Occupants staying post closing- Title company: PROPERTY DETAILS:MULIT-FAMILY7 Units - 2B/1B per unit- Living sqft: 5,200- Year Built: 1940- Age of Roof: 1- Age of HVAC: New- Age of Water heater: New- Condition of Electrical: Good working condition- Condition of Plumbing: Good working condition

Lessons learned?

Learned a bunch.If your PM sucks, get rid of them faster…. 

When I did my first house hack in Columbus I showed very low income on taxes. 

If you're still looking for a CPA/Tax Strategist in California feel free connect.

It's not a hard program to learn and there are no "secrets" to be successful.We've managed thousands of S8 leases during our 24 years in the Detroit market, DM us if you'd like to chat.

Will the title company put this property under our LLC name, and won’t be required to legally inform HUD/tax authorities. - will it influence property taxes once we move to conventional loan in 3 yrs? 

Lessons learned?