Taxes/Insurance- depends a lot on where you are located.The homes themselves- POH or TOH? 

Working with a CPA can help you navigate tax implications, and staying focused on long-term planning will set you up for success.

Preforeclosure owner finance wrap, paid off the default payments and taxes with cash and assumed the owners loan.

Preforeclosure owner finance wrap, paid off the default payments and taxes with cash and assumed the owners loan.

Property taxes are 650, insurance 160, outsourced property management takes 10% of the rent, and another 10% of the rent is set aside each month for future repairs. 3750 x 0.8 = 3000. $3000 profit, minus about $2300 in mortgage, property taxes and insurance leaves about $700 cashflow, when I move out.

That's 50k a year gone and you are losing tax write-offs and equity potential.

@Brandon MorganAn LLC will not reduce your taxes.

Mgt, Landscape/Snow, tax, insurance, utility then debt service. 

And you would get to indefinitely defer all tax on the gain from the sale.

However, I’d like to have a space of my own before living with others again (I plan to house hack again with my next property).I’m seeking advice on how to move forward, as I need to consider things like utilities, taxes, landlord/umbrella insurance, and managing the property, especially with someone renting my garage.Specifically, I’m curious about renting out individual rooms and living on my own for a little while.