And I totally get what you’re saying about finance people—they can make things feel so complicated!

(Note: NEVER hire someone just because they’re friends with one of your employees, it makes firing them way more complicated.)

Our life is complicated and I work a complicated stressful job, but if we’re being honest, I also don’t have time for renters, but I somehow make it work and I personally think it pays off.Mtg: 1800Rent: 2900Owe: 200Rate: 4.5 I thinkSell Price: est. 450-460No other rentals except an in law suite on our current primaryFuture goals: would love to use this properly to buy other properties to get out of the corporate rat race. 

The rules are more complicated than your one sentence, and even Tom did not have the time to explain all of them on his podcast. 500 hours is one way to qualify for material  participation, and there are other ways.

@Bianca Rodrigues  I second Ken's advice above, definitely get an appraisal and inspection if you move forward with the deal.The two existing mortgages make it complicated. 

Each of these asset classes requires a deep understanding of market conditions, legal nuances, and financial structuring to avoid costly mistakes.For example, tax liens can seem like easy wins but come with complications such as redemption periods and legal challenges.

I got quickbooks once and it was so complicated and cumbersome that I gave up trying to use it.

Instead of complicating things. 

These loans are quick and align well with your goal of selling within the year...just watch for carrying costs.For Home 2, the $210K mortgage complicates things a bit, but it’s not a dealbreaker.

Investors get stuck and cannot cash out because of tax complications.