What are the tax ramifications of deciding not to rent a rental property and just leave it empty?
This is a property purchased via 1031 exchange, rented briefly, and depreciation has been taken for 3 years.
Long ter...

To assist you in your investment endeavors, assemble a team of experts that includes contractors, bankers, attorneys, property managers, and real estate brokers.

Good luck on your academic journey and future endeavors in real estate!

@Michael SaladinA exciting endeavor, house hacking calls for careful preparation, networking, and investigation.

This endeavor defeated me fairly quickly.

Thank you, and well wishes to you all on your future endeavors!

I have done things with attorneys, CPAs, stock brokers, insurance brokers and others successful in business.General business knowledge, understanding of financing requirements, knowing property valuations, maturity in personal financial matters to give general advice, understanding of the foreclosure process, legal aspects as to liability in leading someone into financial matters, fully understanding fraud issues and the differences in a general matter where fraud might be applied as generally thought of and what may constitute bank fraud causing or even attempting to cause a loss to an insured bank having different standards.

In an attempt to clean up the industry, legislation was written by those who 1) had never been lenders themselves and had no understanding of the industry and 2) their biggest campaign contributors were big banks (look up Barney Frank, Chris Dodd, and Elizabeth Warren's campaign contributors at the time and you'll see big banks).

My AC unit was stolen right before the tenant moved in, back door and frame broken and needs to be replaced from an attempted break in (alarm scared off intruder) on a different house.

Over the past several years I've tried to educate myself on the logistics of buying and managing a house as an investment and attempted to learn from other peoples experiences in REI.