We plan to rent it out, as an STR, while we are not there.

I have found that they worked really well when it comes to getting better tenants and better rents, and having less hassle, less headaches, and then getting a higher sales price; without paying closing costs or realtor fees.

And recently closed on a condo apartment that I'm renting by the room.

Learned that I needed a realtor that was local to the property location.

Purchase price: $350,000 Cash invested: $10,000 House hacking my first home by converting the master bed into an independent studio that we rent on Airbnb What made you interested in investing in this type of deal?

hi. try radiators on the bottom walls in every room except the kitchen. try increasing the rents. try talking to the clients about the heat situation. try removing the heated baseboards. do something before something happens to you!

Do you plan on renting out your current house or house hacking it? 

The tenant was paying rent to the previous owner but hasn't been paying rent for a while since the property was foreclosed and sold to the bank.

Later I find out from the tenant that the tenant pays their rent early and has already paid January’s rent.

You'd want either an LLC in the state where the real estate is located or you can also just put it in your name and take out a good landlord's policy from Farmers, Erie, etc. which will protect your investment just fine.