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.

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.

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.

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

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

Hopefully they have enough income without the rent to qualify.  

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

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

I would define a wealthy person in America as $300,000+ annual income and at least $3 million net worth.

While I do not have an official W-2 currently, I do have a steady income, great credit, and have money saved as well from working since I was 13 years old.I relate to Ian Kay in his journey but also am very determined to make my goals/dreams a reality this year by July 2025.