I was comfortable and content living the life I had created.

Here's a real life example of what Austin said above. 

But you'll also want to see how depreciation can be used later in life to offset things like Required minimum distributions. 

SB 567 clarifies that a tenant is not required to vacate the unit on any days where they could continue living there without violating health, safety, and habitability codes and laws.

I have lived in Memphis all my life but do not know if this is the market I want to pursue.

-CJ Johnson Life House Design and Construction San Diego, CA 

I'm more experienced as have been in multiple RE sales (with agents and directly with owners too) over my life and been an LTR owner for 15 years and just want to do STR at this point, but if this program is legit then I would be the one searching for houses while he did the calls.

I'm not an attorney, so take my advice with a grain of salt: a broker who works with investors of all walks of life, big and small, I've noticed most form an LLC once they have two properties or more.Many will form one if they just have one, but if you're talking about house hacking, keep in mind, conventional lenders don't allow entity closings and they are the only lenders that'll allow you to live on the property.DSCR/hard money lenders allow you to close in an entity, but you can't live on the property.

How do you balance enjoying your life today and saving/investing for a better future?

The area had stalled after the 2008 downturn, but he saw the potential for growth, just like you did.He held onto the property, renting it out and watching the neighborhood gradually come back to life.