@Ivan Wudexi, if you don't own a primary residence, explore and consider house hacking your first investment.

Your contractor was good to advise you to get a second opinion.I will also install a sewage ejection pump in our primary for a bathroom addition (well my plumber is), from my research, im going with a grinder pump.

I think this ought to be a primary part of the site.

But depending on when you bought your house and your mortgage rate, it might be possible to convert it into an STR with enough cash flow to more than cover the cost of renting another dwelling as your new primary residence. 

Let's explore some effective approaches for managing investment properties:With a Property Manager:Screening and Selecting Tenants: Entrust your property manager to handle tenant screening, background checks, and selection, ensuring reliable renters for your investment.Rent Collection: Property managers can ensure timely rent collection and handle any late payments or lease violations professionally.Maintenance and Repairs: Delegate routine maintenance tasks and repairs to your property manager, who can coordinate with contractors and vendors to keep your property in top condition.Tenant Relations: Property managers serve as the primary point of contact for tenants, addressing their concerns and ensuring a positive rental experience.Lease Enforcement and Evictions: Trust your property manager to enforce lease terms and handle the eviction process if necessary, following legal procedures.Financial Management: Property managers can handle financial tasks such as budgeting, accounting, and financial reporting, providing you with regular updates on property performance.Without a Property Manager:Self-Management: Take on the responsibility of managing the property yourself, handling tasks such as advertising vacancies, screening tenants, and collecting rent.Outsourcing Specific Tasks: While not hiring a full-time property manager, consider outsourcing tasks like maintenance and repairs to trusted contractors or service providers.Utilizing Technology: Leverage property management software and online platforms to streamline processes such as rent collection, lease management, and maintenance requests.Establishing Clear Policies: Set clear policies and procedures for tenants regarding rent payments, maintenance requests, and lease terms to minimize conflicts and misunderstandings.Regular Inspections: Conduct regular inspections of the property to identify maintenance issues or lease violations early on and address them promptly.Building Relationships: Maintain open communication and positive relationships with tenants to foster a sense of community and encourage better care of the property.Whether you choose to hire a property manager or manage the property yourself, effective communication, attention to detail, and a proactive approach to property management are key to maximizing returns and maintaining the value of your investment.

My primary educational resource has been YouTube videos, which I have watched for many dozens of hours.

I have somewhere between $200-250k in equity on my primary residence in Mesa AZ.

Capital gains would be 0 because he has not hit the threshold for gains on a primary home sale.Dad’s remaindership share (portion that was my brothers) is 35% and carries a $0 cost basis.  

Hi all - new to the Bigger Pockets forums, so apologies if this has already been asked before, but wondering if anyone here has experience renting out. a private room in their primary residence?

. #2 reason is that rentals already bypass self-employment taxes (usually) which is the primary benefit of an S Corp (reduce SE tax plus PTET possibility).There is zero harm leaving it in the S Corp just don't revoke your election.