Hi all,I'm buying a 20-unit property with a live-in maintenance person who works in exchange for free rent but has no formal contract with the current owners.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $3,500

Cash invested: $40,000

I’m 80% complete I did all the work myself

What made you interested in inve...

Be really thoughtful before attaching a lien for personal use to your primary home especially in conjunction with not so great credit. 

That's so valuable for 21 y/o.You didn't mentioned personal finances.

Another approach some take is exploring smaller, lower-cost properties nearby to live in, which keeps personal expenses down while letting the main property generate cash flow.

They bring together investors and properties, creating a love story that can lead to a happily ever after...And by happily ever after, I mean profit.I believe in taking the time to know brokers personally, beyond just a professional connection.

Your CPA is likely concerned about the Personal Use Limitation, which is the biggest threat to the STR tax strategy.If you used the property for personal purposes for the greater of 14 days or 10% of the total days rented during the year, the IRS classifies it as a "residence."

First, examination of the borrower's personal credit is still required for underwriting and loan approval.

I personally think, even without the new law, you should always avoid the vacation home rules. 

My wife and I personally, as investors, have had to do it.