@Madison SloanTo start house hacking, focus on saving for your down payment, researching target markets like Salt Lake City or North Idaho, and building a strong team of professionals, including an agent and lender.

That's 50k a year gone and you are losing tax write-offs and equity potential.

Weigh the long-term benefits of the low mortgage rate you have versus selling and getting $500k from a sale exempt from capital gains tax.

. - Fortunately, our transparent systems allowed the owner to catch it:)- Full transparency - we would have never caught this honest mistake:(An owner also needs to be involved to approve & fund large expenses: maintenance, property tax & insurance payments (if they want to be more hands off), evictions, etc.A great PMC should also have a chat with you annually about your future plans for a property and your portfolio. 

Our cleaning fee covers professional clean, laundry service, and consumables. 

I guess it can save you some time managing, for example one tax bill, one insurance bill. 

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

If the purchase is done in cash, as you mentioned, they’d have more flexibility, but they’ll still want to carefully consider the tax and legal implications of the subsequent sales.I hope this helps, and good luck with your client’s deal!

Another downside is you loose on the advantages, of the Federal Tax Code, by not closing in the name of a LLC (you can elect to have a LLC taxed, as a S Corporation which is a whole other conversation).If you want to close in the name of a LLC, Mortgage Lenders will offer you Commercial Loan Terms (25-30% down, a 15-25 year amortization, and a ballon due in 5-7 years).

Professional tenants can smell an opportunity from a new landlord from a mile a way.