I intend to relocate to the Rapid City, SD region in April/May for work, and I plan to acquire a primary residence that could eventually be transformed into an investment property.

This would make it into two, two bedroom units with the intent of making them long term rentals.I'm guilty of having a lot of projects going at once so my focus right now is bringing the cottage to a point to refinance out of the private money and either make it our primary residence for a year for the financing perks or to go straight into a short term rental.With the four bedroom house I'm trying to decide if it's worth splitting into two units or if I should keep it a four bedroom rental.The cottage I'm also tempted to do mid term with to lower the turnover and maintenance but open to suggestions.The third property I'll probably just let the current renters pay the mortgage for the time being if I'm able to acquire it anytime soon.

Good evening,Active duty military here and resident of south eastern NC (Wilmington area).

IRA funds can be used to make investments only; they can't be used to buy a residence.

Investment Info:Single-family residence buy & hold investment.

Hi Michael, As others have stated you do not need an LLC to qualify for a residential mortgage.

If applicants can't qualify on their own, I don't rent to them.

I think there's potentially a different feeling when you convert a personal residence to such an investment property versus purposefully buying an investment property. 

In non-commercial residence (<5 units), the vacancy is large impact to cash flow s as nd it typically is worth having rent not at the top of market.  

To reduce your tax bill, consider qualifying for Real Estate Professional Status (REPS) by spending 750+ hours on real estate activities, which reclassifies losses as non-passive.