@Ryan RuncheyThe bookkeeping for this specific property will likely be difficult.This appears to be a househack as you purchased a personal residence but also have roommates to help with the rent.As a result, a portion of the expenses as they relate to the house are personal in nature and non-deductible.Items such as real estate taxes, mortgage interest, etc are all pro-rated.On-top of that you are doing the BRRRR which indicates that there is rehab involved.Portions of a rehab are currently deductible, capitalized or non-deductibleCurrently deductible - payment for an area of the home that is a tenant area.

Please keep in mind that "suspended passive losses" or losses that are generated that are passive by nature, will STAY passive losses, and CANNOT be used to offset active income.

Naturally, she refused and the deal was dead.

Admittedly, finding direct comparables has been challenging due to the unique nature of our family's home, but these figures give us a good starting point.I've taken the proactive step of having a property manager conduct an inspection, and preliminary feedback suggests that the renovations required might be relatively minor, pending the final review from the contractor.

I did a rant on BP recently about the arbitrary-nature of the 2% Fed target, but that's not what you're asking.

College towns naturally attract students who may become applicants for your rentals anyway.

It's crucial to align this decision with the nature of your income sources and their respective tax treatments.

If you are using an accounting software, it is impossible for the assets to not agree with the equity / liabilities.Did you factor in everything from the closing statement(such as pro-rated rent, closing costs, lender fees, etc)Did you use a PM company, if you did, did you factor in incorporating the PM Statements.Again, if you are using an accounting software, and factoring in all the transactions from your bank account / credit card, it should not be off.

Most likely the state where the property is located is where lawsuits would be brought if they are something for personal injury like a trip and fall or something of that nature because the “cause of action” arose in that state.

Wooded areas can be attractive to those who value nature and a quiet environment, but the cost can be higher.