But as of today, I am strongly considering converting it into a single-family rental because based on some Zillow comps I’ve seen I could get upwards of $8000.00 per month which is more than double my mortgage, taxes and operating expenses.

This would be a 3 bed/2 bath in a good appreciating location. 

Whatever prices are offered by your chosen CPA, expect them to double with a partnership.

This is expensive , very expensive , your bill can double or triple .  

It might not even apply to you - just another issue in a somewhat gray area of real estate law.But remember- if a buyer buys the home in a double closing - no issues whatsoever - anywhere. 

By any chance is that double the number of doors you own now?

Houston, TX 77092$405K | 3 Bed / 3 Bath | 3,030 Sq Ft | 14,130 Sq Ft Lot | Built 1952$449K - https://www.redfin.com/TX/Houston/5107-Hialeah-Dr-77092/home/30104865$499K - https://www.redfin.com/TX/Houston/2206-Wakefield-Dr-77018/home/29994506$425K - https://www.redfin.com/TX/Houston/4803-Chantilly-Ln-77092/home/30124010$1.1M - https://www.redfin.com/TX/Houston/1726-Locksford-St-77008/home/30123054PICTURES: https://www.dropbox.com/scl/fo/q6uzdcx60eiqelwt60uh0/APSK8ocLphgyIP8-85EMfQM?

I’ll also say that the cash flow more than doubled over the past few years for these reasons:1.

There are more factors than just the community (#beds, level of theming, location to the amenities, style of home (single family, townhome, condo) and others) But I would strongly advise to stay within some of the same communities you mentioned like Storey Lake, Windsor Hills, Championsgate and a few others if cash flow is your goal.

The generally equates to a tiny 3 bed 1 bath home that is in need of renovation, and either no basement or unfinished.