In some cases, after crunching the numbers, the profit margin was so slim—or even negative—that I had to pass on some promising opportunities.Here’s my situation: I currently own two properties—a primary residence and a rental property—both of which have substantial equity.

With that said, here is an opinion: You cannot write off anything you use as a personal residence.

Investment Info:Single-family residence buy & hold investment.

@Edgar Duarte Selling now under the primary residence exclusion avoids capital gains taxes, allowing you to reinvest the $500K equity in diversified assets like index funds or additional rental properties.

We work with lots of clients from both coasts, but especially from CA, helping them find investment properties with residents in place under 2 year leases from day 1!

After they moved in, we started to get some mild complains from our neighbors (for the rented unit which was our primary residence until we moved out in another house a few miles away). 1.

My situation currently is I have 1 SFH rental that is owned by my LLC and doing well, and also I'm doing a live-in flip on my primary residence.

If they want their money back fast like a flip then let them flip it and you buy it as a primary residence with a conventional or fha mortgage.

Far too many parks just 'give' a resident in the park free space rent to keep an eye on things and do light maintenance with no 1099 reporting. 

One of the best hacks if you have limited cash is to buy a primary residence with up to 4 units.