My mortgage increased earlier this year as my home owners insurance went up due to the company closing and my escrow didn’t have enough to make up the difference so I’m kind of pay check to pay check right now.

They claim only 2-3 percent of the companies are audited so the more clientele they have the percentage of audits will be less even if they make some calculated risks.Few Deductions they highlight which you can get with proper planning and right CPA.1) 119A - Revenue stream bifurcation2) Augusta Loophole 280A - use primary residence for 14 days of business and pay you back without tax implications.3) Paying your medical and children education fee using c-corp4) offcourse the famous charitable llc - another program and package.Thanks for the insight.

To be fair, I've encountered situations where the Section 8 rent received was higher than what cash paying tenants were paying.

My ultimate goal is to acquire enough real estate to achieve financial freedom, allowing me to travel, provide a comfortable life for my family, and teach my children about discipline, financial literacy, and the wealth-building potential of real estate.I’m here to learn, share, and connect with others who share this passion.

A lawyer might be able to answer this better, but most rentals fall under fair housing laws (there are exceptions) and that protects against discrimination based on familial status which means children or someone who is pregnant.

I really like LLCs compared to corporations because of the free stepped up basis for passing property to my children. 

Providing relocation assistance to tenants, for example, if I want to sell the property or move back in - this can range from one month's rent to thousands of dollars (e.g tenant has a disability, minor children, elderly it will cost you more), depending on the city.

On most any day you could find people walking dogs, or children playing in the area.

Hi Olga,Based on your aversion to over-leveraging and your situation as a parent with young children, I recommend focusing on option 2.

Their children (now in their late 40s) inherited the house, but they have not listed it on the market, and I heard that neither is willing to move into it from their current setup, so the property has been sitting vacant.