- Run a cost segregation study on this property in 2024 and you might have $100k on line 18...Without diving too deep on this post - If you run this scenario as a real estate professional while materially participating in the property, You'll be able to reduce your's and your spouses taxable income that year... 

I mean myself and any bank would need more details, but if you utilize that large sum as a downpayment and have a small mortgage, wouldn't you easily qualify for the debt to income?

After watching some of the podcasts and reading posts I am set on starting my real estate journey utilizing the house hacking strategy.

When that portion was complete, I could then receive draw money which allowed me to pay my utilities, taxes, and mortgages.

Utilities included.Fully rented.For sale off market.

Security Deposit: 2600Lease states no smoking/painting walls/no hanging things on wallsTenants have moved out and have left two truck loads of garbage to be removed.Damaged doorPainted walls which got on the ceiling and trim Lots of holes on the walls throughout the houseDamage from windows being left open constantly Weed was clearly smoked in the house (smell throughout the place) so we need to deep cleanWater bill wasn't paid so I had to turn back on utilityMissing keyQuoted costs:$450 junk removal (some furniture)$935 for damaged doors/windows, painting cleaning$30 for utility turn onTenants were only there for a year before moving out so a lot of this is beyond normal wear and tear. 

To determine the correct treatment, consider the RV's permanence, utility connections, and business use.This post does not create a CPA-Client relationship.

I didn’t know anyone in Alabama, so I called a few agents I found online and ended up picking one from BiggerPockets.

I got into RE investing utilizing the same strategy as you're exploring.

The LLC helps when you are trying to do things like turn on utilities.