The problem is, that's not proper accounting because a credit card is a liability, and doing this workaround will reduce your assets rather than increase your liabilities, which totally messes up your balance sheet and debt-to-income ratios.  

Renting at FMV allows you to deduct mortgage interest, property taxes, repairs, HOA fees, and depreciation against your W-2 income, potentially reducing your overall tax liability.

Purchase price: $715,000 Cash invested: $297,000 Current Listed Price: $830,000Original Listed Price: $950,000 (4/13/2024)It has been reduced $120,000 in the las 6 months and hasn’t sold.

Account ClosedI recommend that have a consultation with your tax accountant and/or financial advisor on ways to reduce your taxes. 

Do not place yourself into a position of needing to sell in a reduced value environment. 

Many Realtors will suggest purchasing a property using a FHA Loan, to reduce your out of pocket money.

This would help reduce the amount needed for a bridge loan to fund the acquisition and renovate the four vacant units.

Especially as it relates to being able to rollover IRAs and old 401k money into a Solo401k.Self employment allows you to contribute large amounts to Solo401k to reduce FICA taxes.

One of my early properties barely broke even, but after a couple of years, rent hikes and expense optimization turned it into a strong performer.For cash flow benchmarks, I usually aim for $200-$300 per unit, but your situation.. house hacking.. offers unique benefits like reduced living expenses and quicker equity buildup.

In construction, there is only so much you can do to reduce your margins while staying profitable.