An activity is a rental activity if tangible property (real or personal) is used by customers or held for use by customers, and the gross income (or expected gross income) from the activity represents amounts paid (or to be paid) mainly for the use of the property.

If it is not set up with systems and people in place to run it you will be mainly selling your book of business.

Getting less every month is still generally more cost effective than dealing with a tenant that stops paying or causes damages to the property.However, if you do decide to change your selection criteria and you are worried about fair housing, the main thing is documentation.

Therefore your main competitive advantage is price.

I might use the HELOC as an emergency fund knowing if I tap into it I now have to aggressively pay it down.Then main thing is you don't want to overleverage any property and if you use a second mortgage to buy a property, you are essentially 100% leveraged on that property.

@Jimmy SontWell if you signed your name vs your business now you may have easily pierced the LLC if it’s deed as one and loaned as anotherIf the intention was to do this then why not sign itI would not ask for anything as why have your hand out - someone made an error and it does not cost you anything to fix it so fix it.

I would not go with a brokerage whose main focus is SFR.

However my main question is what service can I use to report their rent regardless of tenant participating or not.

So, the number of inquiries will be understandably lower with that approach and intentionally so.

Suited homes are about $450+K looking at some PM companies, you'd get about $2K in rent for the main floor and $1.2K for the basement.I also have places in BC.