Destin is a great spot for house hacking—tourism is strong, so renting out part of your property could help with the mortgage.

I work on projects across multiple states and have a strong network of contractors.Regarding when to involve a contractor, if it’s someone you haven’t worked with before, I’d suggest waiting until after the inspection.

I am based in FL so there is a heavy hotel lobby. 

Or, at least a contractual commitment from him that we can revisit the share allocation based based on the depreciation recapture based on when, and how much, we sell the property for. 

I am a CT based investor, flipper and property management company owner.  

Even a LOI is not strong enough to start spending time, effort and MONEY on due diligence.  

If that's the case, then you definitely have a strong argument for getting a reimbursement.Thank you for your input!

Starting your real estate journey with a house hack in Austin is a smart move, especially with its strong rental demand and appreciation potential.

For example, you could create a weighted structure where a percentage of profits is based on cash contributions, and another portion compensates for rehab or management efforts.Rent Payments and Tax-Free Profits:If you structure it as an owner-occupied property, the rent you pay could be shared proportionally, but tax-free gains on resale may only apply to your share, as you’d be the owner-occupant.

Nonrenewal rates were nearly 80 percent higher in Zip codes that faced the highest risk from insurance perils such as strong winds and wildfires compared with the lowest risk areas.