I’ll add some details to the mountain houses which will shed some light.The houses are aging and I’m doing a lot of wood, siding and deck component repairs plus they need staining quite often.

If legal fees or eviction costs arise, they’re also deductible as ordinary and necessary expenses.Keep detailed records of every expense for accurate tax reporting!

This gave us a clear idea of all the details we needed to know in terms of paint color, floor, and other key fixes such as windows, doors, and cabinets.

Having a detailed rehab plan and experienced team is critical.Not Screening Tenants Properly:The rental phase is crucial, and bad tenants can cause property damage or miss rent payments, disrupting your cash flow.

The appraisal price estimation I imagine the price estimate is the most valuable but when it is at value are there any other details in the appraisal report that can be used for a price reduction?

In terms of what I needed to know before going into my first house hack, having more detailed rules probably would have been helpful.

What held me back were the details behind understanding the financing - both short term to acquire and long term to hold.

You need detailed language to handle all possibilities. 4.

I’m already doing all of that, which is why I didn’t want to get into more detail and everyone get side tracked from my specific question with the facts given.  

Watch this video for a complete insight on what this means to you as a landlord.