.: The applicant needs a social security number or an individual tax ID number (ITIN).

You are a high w2 earner, The house is worth 110k today, you are buying from your grandma for 60k in exchange for free rent for life, upside ARV of 200k.The costs of owning the house will help provide tax relief on your high w2 earnings, you are buying a great chunk of equity that will pay off in the future, and you and your grandma are doing each other solids. 

This property will require a pool to fully optimize its earning potential, and I've already factored that into my calculations.

Lower taxes, no POS and lead testing. 

I like to believe I earned their trust for when I need to borrow from them again.

AssetsAsk yourself: Do I want cash that depreciates with inflation and taxes, or do I want to build wealth?

This is an example of private lending which is different than the IRA owning real estate and does not trigger UDFI/UBIT tax.

It's essential to do your due diligence and perhaps consider investing in more established or upcoming neighborhoods.Property Taxes: New Mexico's property taxes are relatively low in comparison to other states.

If I can park the 388k ($415-27k) for one year at CD rate of 4.5% and then est 300k (after paying cap gain/depr recap) at 3.0% (assume CD rates lower) that interest income of about 24 months net of ordinary income tax is about the same as my current mortgage.Trying to play devil's advocate and think why selling this year does not make sense. 

When house hacking a duplex, start by estimating the total monthly rent you can earn from the unit you’ll rent out.