This will avoid the asset having to go through probate and any 3rd party (family) related issues.3. 

I wanted to get your take for the Bristol TN area.Thanks in advanceChris Your biggest issue would be having available options after a claim.

Or this is a non issue if insurance coverage is not taxable.Many other thoughts and input.

I would not do this, if you don't look at the property you might buy something with a bunch of unforeseen issues.

It’s not just for large portfolios, an LLC can protect you if any issues arise with tenants or the property itself.

However, the biggest con is that you are sacrificing a bit of your privacy by living right by your tenants and it is usually a lot more stressful since everything is your responsibility - managing tenant issues, handyman repairs, taking care of the lawn, etc.I would strongly recommend house hacking especially in the Columbus Ohio market!

Account ClosedIf there are maintenance concerns that's an entirely different issue.

They will issue an IRS Form 1099 in January, reporting your total taxable income to you and the IRS.

Maybe it's an issue if there is no longer a garage but I still don't see that being a problem for a rental property investment.

Have run across this issue several times when getting referrals from other real estate investors.