if his income is strong enough and not as much debt, he should be OKHope that helps..

If you did, you could take advantage of some unique strategies, like renting it out while traveling (as long as it’s for 14 days or less) and having that rental income be completely non-taxable.

I understand it will be hard to match (if not impossible) the 10% yearly income and 5% appreciation of properties (those are my numbers).

They are often located in lower-income neighborhoods and may need maintenance or renovations.

This protects against potential claims and liabilities specific to the rental.For tax purposes, maintain clear records of rental-related income and expenses, allowing deductions for insurance, utilities, maintenance, and depreciation proportionate to the rental unit.

Despite having generous incomes, some of them are utterly irresponsible with the property and leave a disaster behind when they move. 

What I found was, yes it was nice have additional income, but each project seemed to always interfere.

It does not include the rent income, just the appreciation, it is about 11%. 

Whether or not he is solely using the rental income to pay off the property or not, he has the ability to pay down a mortgage efficiently. 2.

Alternatively, you could pause bookings for a short period to complete any bigger changes without rushing.It really comes down to whether you’re prioritizing immediate income or taking the time to make it 100% yours.