The reason the answer is framed this way is because when you take a HELOC out to make repairs on your personal residence, you are allowed to tax the interest deduction on your Schedule A of your 1040 income tax return.

It's a delicate procedure!

Renting at FMV allows you to deduct mortgage interest, property taxes, repairs, HOA fees, and depreciation against your W-2 income, potentially reducing your overall tax liability.

., guest communication, cleaning, or repairs), and hours worked.

If you can stomach the negative and any repairs for the next 5 years then long term wise it'd be worth it.

You will have holding costs along the way with repairs, maintenance, taxes, etc.

Class C bought in 2023 on the East Side of Indy has not been great, repair calls 9 times out 12 months.

Is it a plumber that did a repair on one of your rentals?

Take the time to break down what needs to be repaired and what upgrades you will be doing.

Also, prioritize repairs over aesthetics if anything structural or foundational needs attention.