@Jeff M. would love to hear what made you change direction and move away from investing in Lorain.

I am a resident physician in dermatology, during  medical school I bought a property in Denver with an Interest rate of 2.75% (COVID rates lol) with the goals of renting it out when I moved onto the residency.

I was made to think "if you've put this much time, money, and effort into perfecting the development of secondary suites into SFR's, why would you move your focus onto another strategy?"

When you own a couple of units, the odds of there being unexpected vacancies that overlap each other are usually low, but when you acquire more and more real estate, the odds of tenants moving out around similar times increases. 

I would first separate out the original purchase price between building and land.

From my understanding, if you list the properties under a legal business and sell the business itself the ownership of the account isn't getting moved.

However, I’d like to have a space of my own before living with others again (I plan to house hack again with my next property).I’m seeking advice on how to move forward, as I need to consider things like utilities, taxes, landlord/umbrella insurance, and managing the property, especially with someone renting my garage.Specifically, I’m curious about renting out individual rooms and living on my own for a little while.

Kendall,Since you asked, here’s my story.Thirty years ago, in my mid-20s, I made a life-changing move from the San Francisco Bay Area to Ohio.

The Fed’s cuts in 2024 initially moved mortgage rates downwards to their lowest level in nearly 20 months.

Challenge: It's in a neighborhood (no HOA), and renting the entire property (sleeps 25 in total) caused problems in the neighborhood, due to noise and parties – so we only rent the separate cabins now.