In the case of a family, it always has issues involved.

It works out well for all involved.

@Chris SeveneyWe put tenants into collections without a judgement or involving an attorney.

This could lead to significant tax savings, especially if you're actively involved in the management and operations of your properties.Additionally, starting a property management company would allow you to deduct a wide range of business expenses related to managing your properties, such as office supplies, travel, marketing, and payroll (if you hire help).

Atlanta area "pastors" involved in real estate... that's a whole different story in ethics.

This duplex is walking distance to the ocean and will be a great long term rental for me.Purchase Price: $400,000Owner Financing: 5.0 percent interest only with a 5 year balloonMoney down: $90,000Repairs Costs: $35,000Cash Flow:  $632/moCoC ROI: 5.96%

Before I looked at the deal, here's what I asked from him:The purchase and sale agreementRehab breakdown documentation2 HUD statements of previous dealsDeal info (Property profile, funding, security, repayment plan, etc.)Title company involved in the transactionWhat I also asked for was a term sheet from the hard money lender that was lending at first position.

House hacking involves specific tax strategies like depreciation, expense allocation, and potential rental income reporting, especially since you’re in a different state from the property.You cannot just claim the house.

I agree that looking online is only going to get you so far, but I am trying to educate myself as much as possible before taking the next step.I am early on in the process where I am looking at areas that are long distance, as I live in a HCOL area.

Unfortunately, the perceived excessive costs involved in purchasing real estate can intimidate aspiring residential real estate investors.