I would strongly recommend having a real estate-focused accountant look at your situation and prepare your taxes for you, as you are now treading into complicated waters where you can get yourself into trouble if your not careful!  

Hi @Mike Paolucci,I am local to Columbus and preparing foundation for investing at the moment.What has been your experience with short term rentals in Columbus and which neighborhoods are doing well?

Depending on your amount you may want to consider a debt fund too as its less work and your money is deployed/paying you interest so you do not have to keep finding deal after deal. just some food for thought

We are preparing our house to turn it into a long term rental unit and plan to house hack a duplex or fourplex (along with our 4 kids 😜).

I need to prepare for tax filing and potential audits, but I'm unsure if receipts for every expense are necessary.I had an incident where the PM mentioned a referral fee of $350 for a tenant, but the bill showed $400.

However, if I will get a job somewhere, it will be much easier to get accepted for the loan and I'll be able to do it earlier.What would you recommend me to do and what else can I do right now to prepare to invest in real estate?

What are the best ways to prepare for the Law & Safety and General B license?

Your tax preparers?

None of this is of concern, but just be prepared if HOA dues go up and/or special assessments. 3.

HOWEVER, be prepared that an u/w may find the numbers higher than usual for the area and may scrutinize this further. if there is indication this is room-by-room, it likely will be a no-go, and you could end up being hit for the expense of the property without any income to help offset it on your DTI.