For long-term planning, consider transferring the property into a trust to manage tax and legal complexities.This post does not create a CPA-Client relationship.

Lived in Columbus for 13 years, 600+ transactions, development experience, new builds, 40+ rehabs, DM me if you want to know about the market. 8+ years on the forums advertising and building relationships with investors in almost every state.

I heard that if you move the personal mortgages to an LLC they could get called and we would want to avoid that3.

but that's dependent on your job, relationship, goals, commute... we can't advise you on that.

I personally would go that route as it would probably be less expensive. 

Quote from @Dereck Olson: Hi Nicholas,  Just a thought from the possible tenant's perspective, but filling out a prequalification form and/or providing personal information before they have even seen a place and know if they will be interested in living in the property might be a bit too much to ask. 

Did your borrowers mention securing your investment with a recorded mortgage or deed of trust, personal guarantees, lender’s title insurance, or anything else?

If the home was still your primary residence throughout 2024 and not actively listed for rent, it would typically remain classified as a personal residence until the lease began.

House hacking is the BEST way to get into real estate investing and that's how I personally got started as well too.

Personally, I've been in this niche since 2007.