Additionally, when underwriting deals, you need to account for the general idea that repairs and maintenance will be a larger percentage of your rent, the lower your rental is.  

if there is appreciation, but you wouldn’t sell your current home tax free and buy a neighboring home to rent out, (There by raising your cost basis for additional depreciation and lower capital gains tax.) then it probably doesn’t make a good rental property. . 

Just be sure to clarify that she isn’t a leaseholder but is authorized to reside in the unit.If you’re concerned about liability or want more peace of mind, you could ask the primary applicant for additional security, such as a higher deposit, depending on what’s allowed under Colorado law. 

My goal is to live in the home during the winters, maybe 3-4 additional weeks for vacation, then rent it out to help cover the mortgage the rest of the year.  

Where it gets interesting is that the house has 5 mailing addresses associated with it and the fire prevention bureau has on their records it is also a 5- unit house, and I am billed as such upon annual renewals/inspections.

Additionally, many states offer property tax exemptions, significantly reducing expenses.

In addition to that, building your network is key.

Additionally, I really want to dive into the property management realm and am passionate about connecting and assisting other Veterans and Active Duty. 

Plus, we like to make it fun so there will be 2 evening events, in addition to all the daytime sessions.

You can later transfer the property to the LLC, but be aware it might trigger due-on-sale clauses or additional costs.