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 personally put them on a schedule, long term, because I do not have the time to do the work myself and contracting it out all in one shot comes with a large bill.  

Do you provide personalized guidance, or is the mentorship more of a one-size-fits-all approach?

Separately I have a personal umbrella policy.  

Personal Financial Statement Borrower’s Schedule of Real Estate – or- Resume illustrating experience2-3yrs Personal & Property Tax Returns – All schedulesPrevious Year and YTD Property Profit & Loss statement w/ detailed expensesRent Roll w/ detailed lease informationCopies of all Leases3mo.

I remember some of my staff trying to rent rooms and they would get 70 applications and interview potential roommates in person to see if it was a good fit.

Hi @Ryan Kinoshita,I personally recommend Chase business for a few reasons: Really easy to work with, really good sign on incentives for both their accounts and business credit cards, and there are branches all of over the country making it easy to handle your business from anywhere.

I personally own 2 rentals in Indiana.

Personally, I'm fine with it but I'm not very demanding for a sofa so it means little.

Interview a number of tax attorneys and get personalized advice for your exact situation.