@Danth Aman I'm assuming you're doing a general home inspection?

Instead, I bought a home at full price and missed out on years of potential savings and rental income.

Renting out your current home could provide steady income, helping offset the new property's costs. 

Based on my reading and understanding I'd like to form my LLC in Wyoming. 

For example in Reno, NV there are many homes with walkout basement areas that can be made into separate studio apartments that will get more rent than just the room in the house.

Hi @Robert B Azimi,A home that has been registered through The Mills Act, can be rented out the same as any other property, and it can even increase rental revenue as there are people who really like the thought of living in a historic house.

You should have a good idea of every expense you have in your primary home, then add the STR specific:  (These are rough estimate numbers, depending on various factors)STR insurance - a special insurance that covers both the property and your liability, could be $2~4k in areas without natural disasters, could be more than $10k in some other areas.cleaning fee - approx. $50 per bedroom, so a 4-bedroom house will cost you about $150~200consumables - bathroom supplies, kitchen supplies, beverage supplies: $20~30 per week, depending on how much you providewear and tear - towels, linen, kitchen utensils, some furniture: $1000~2000 per yearRepairs/replacement for things that guests break or steal:  $1000~2000 per yearAlso, if your personal use is less than 14 days a year, the entire property's expense is deductible against STR income, but if you use more than 14 days, then you will have to calculate the proportion of how many days it's rented out vs how many days you or your family uses. 

Hi Everyone, I work for a investor focused Real Estate Team (Morrow Wargo Group) based around Allentown.

Because it is always changing, but not always warming.....gotta cover your bases y'know.... 

For example, I live in Gilbert, AZ, which isn't exactly the cheapest place to live, so if I begin to look for a house here in AZ are the lenders going to want to see 300k-400k$ in liquid assets for me to get approval for a mortgage (as the homes in my area are around 800K-1M)?