Finally, even with a substantial discount, the house may not be worth it.

Keep records of the payment timing to substantiate your reporting if needed.This post does not create a CPA-Client relationship.

If you provide any kind of substantial services like catering, car service, etc you will change you tax situation and no longer can file under Schedule E.

Both properties have a substantial amount of equity that’s essentially sitting idle.Would it be a good idea to tap into this equity (through a HELOC, cash-out refinance, etc.) to fund future fix-and-flip projects or purchase additional rental properties?

So far I got only individuals with a rent limit of 1200-1600is it  common to let  2 - 3 individuals who don't know each other rent the house?

OR do you call each individual specialist (plumber, electrician, mold expert, etc.)?

Sellers may struggle to mentally shift from "owner" to "tenant," which can create challenges with boundaries and property care.Security Deposit:If you’re doing a temporary leaseback, be sure to collect a substantial security deposit to cover potential damages and ensure they vacate on time.

Both properties have a substantial amount of equity that’s essentially sitting idle.Would it be a good idea to tap into this equity (through a HELOC, cash-out refinance, etc.) to fund future fix-and-flip projects or purchase additional rental properties?

you also need to source the property, and for BRRRR you need a goldilocks property - something that is distressed enough that you can buy substantially below market, but not so distressed that it's not worth fixing up.hope this helps - happy to help further

If it's substantial enough, they may actually put effort into the search.