Another good thing about that is that you can do a cost segregation study based on the percentage of the house that is being rented to your house mates.

Thanks Shannon  Does it cost less to go straight through WAIVO? 

The truth is, they will keep playing games and milk you for every penny they can, then they will leave the house a mess and cost more with cleaning, repairs, and vacancy.

Most of the industry is blue collar work and some of our tenants have their rent paid by their corporate HQ, our all in cost for a new home there is $250k and we are bringing in $3k a month in rent and have had zero vacancies. 

You may be able to see if a retailer still sells the 2024 version.If you can't get the one time purchase, you would need to see if the cost is beneficial.For real estate -  Quickbooks desktop > Quickbooks online because you can set up multiple entities within quickbooks desktop and not pay an additional cost per entity that Quickbooks online would charge you.Best of luck! 

You should only be liable for tax on any appreciation since you inherited the rental (minus the cost of your improvements). 

But you have closing costs for Refi, and sale, but in sale you get all your equity back out. 

Connecting with experienced investors or joining local real estate groups can provide valuable insights and help you avoid costly mistakes.

Covering the mortgage isn’t an issue, but I’m considering factors like: Multi-Family: House hacking would help offset costs right away, but I’d likely need to put money into renovations upfront.Single-Family: Easier move-in with no immediate renovations needed, plus potentially lower tenant turnover once I rent it out For those who have been in a similar situation, what did you choose and why?

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.