Enough immediate cashflow to balance out the mortgage, taxes and insurance.

You get to harvest the equity tax free.

They can identify potential investment opportunities... not to mention all the tenant/landlord laws, eviction process, security deposits, accounting, end of year tax statements etc. lots of pitfalls to be avoided.wish you success in your ventures!

I recommend that you contact a lawyer to setup this process for you.  

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.

Repairs made while the property is your primary residence are not deductible, but improvements can increase your cost basis, reducing future capital gains tax when you sell.

He will get around $3,100 tax free Base housing allowance and will have $150,000 he can put down.  

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

Avoid basing it on uncontrollable factors like taxes or insurance.

NEED HELP: I am looking for assistance in lawyers and other experienced syndicate mangers to seek advice and some guidance.