Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

I understand that they would all be considered unrelated even though two of them are cousins. 

Costs after it’s placed in service are deductible as rental expenses.If you need help tracking these costs or categorizing them for your tax return, consider working with a tax professional or using software that helps you manage rental property expenses.

@Jason Wray hello the only reason I was considering host financial was because it was a sponsor of the bigger pockets podcasts that I have been listening to with Dave.

So I bought a single family home for 315k that was considered inhabitable.

I have strongly considered managing on my own in the past. 

I live and invest in Milwaukee since 2007, so probably a little bias here, but we are set up very well for future growth. 

If you control how they perform tasks, set their hours, or provide tools, they should likely be a W-2 employee, requiring you to withhold taxes and comply with payroll regulations.

The tax expert knows more about whether or not the future is affected by changing the use between 2023 and 2024.If you are worried about paying taxes on rental income, you might consider that you can rent your home out tax-free for (I believe this is correct) 14 days of the calendar year. 

@Mattin Hosh first, most cities in Metro Detroit have some type of rental property inspection every 2-3 years.It's not really a big deal 99% of the time - especially for owners who are NOT slumlords:)Also, a quick Google search will show that several states/cities are passing/considering similar legislation.One of the biggest mistakes we see newer investors making is NOT properly understanding Neighborhood/Property/Tenant Classes and naively assuming that any rental they buy will deliver Class A results.Read our copy & paste thoughts below and DM us if you'd like to dicuss more about the Detroit market:)-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?