Both homes are now rented on two-year leases at $2,175/month.

If a home was previusly owned and lived in by a famous person, does it add much value? 

., a large upgraded kitchen, two living rooms, ample parking, and a private backyard, the home is set for completion in May 2025, with leases starting in August 2025.

If the home was still your primary residence throughout 2024 and not actively listed for rent, it would typically remain classified as a personal residence until the lease began.

I agree with Collin.At the very least, you need 2nd home, "vacation rental" insurance.

Not too concerned with rent/price ratio on single family homes since none of them are really going to cash flow a ton anyhow unless they are paid off. 

Investment Info:Mobile home buy & hold investment.

Here are the key details of my situation:Rental Property Details (Note: This was our primary home till 2017):Current Value: $970,000 to $1MPrimary Mortgage Loan Balance: $505,000 (@ 2.6%)Took Home Equity Loan on this house to make down payment for my current primary residence.Home Equity Loan Balance: $123,000Total Loan Balance: $628K (Primary Mortgage + Home Equity Loan)Rental Status: OccupiedPrimary Residence:Purchased in 2022Mortgage Rate: 7.3%Current Loan Balance: $650KMy goal for 2025 is 2 fold: #1.

Quote from @Jason Hathaway: I'm in the process of purchasing another home adding to my portfolio.

Quote from @Sundone Boutvyseth: Looking to buy a single family home and use as a STR on Airbnb.