I'm an investor and co-host in Dallas, TX--- and that's where I live. 

Get a bank statement to cross-reference their paychecks as most employers now direct deposit.You'll also see if they have a savings history or are living paycheck-to-paycheck.If they are not paying rent right now and have no savings, how well do you think they'll be able to adjust their budget, so they can pay rent on time?

I had taken the entire profits from this flip and I reinvested it 30m away from where this contractor lived (DFW) where I myself, live in Wisconsin.

I am tired of living the rat race and now I'm in a mindset where I am okay taking risks to jump into real estate investing.

Your neighbor s as Sean mentioned, have a lower tax bill likely due to the fact that they live there and there are laws that prohibit the tax assessor from raising the property values more than 3% per year when it's your primary residence okay, it's also fairly common for your tax bill to significantly increase in the tax year after you purchase it.

It isn't easy to make things pencil, and I don't see it getting much better over the next 12 months.I have changed my rental strategy to Co-Living (rent by the room).

Can you find a 2-4 unit property and live in one space while renting the others?

I don't know Accessible CLG, but can say that we have rented to groups like this and have not had a problem.We have also rented to corporations who have people live there for only a few weeks at a time. 

I understand that if you live in a state that does not have a state income tax - you won't have any state tax liability, but based on $110K income, you would be in a 24% federal tax bracket...Distributions from an IRA or Roth conversion would be considered ordinary income and subject to ordinary income tax; capital gain tax is not applicable here, so I'm not sure why you are bringing it up... 

Hey BP Community,I am an Atlanta resident and bought an older triplex about a year ago to house hack in (live in one unit and rent the other two out).