Quote from @Paloma Wodehouse: You only mention two problems.

Areas like Ohio seem to be mentioned quite a bit on the message boards for better affordability.  

-Also, we absolutely pitched in to help with legal fees, $50k like you mentioned.

Let them know how much you enjoy living in the home and mention that you’re planning to buy your own property in 2025.

G'Day Alejandro,As a few have already mentioned, take a peak at Toledo also.In my opinion lower potential for long term appreciation but solid/"boring" cashflow.I prefer my portfolio to be "boring" but cashflowing lolLow entry points (Sub $100,000), high rents (Above the 1% rule).Blue collar working class decent folks that will stay and pay.Depending on the area but no derelict homes, yards well kept, cars with wheels and all tenants are employed.Plus, all are sophisticated enough to pay rent online so property management doesn't have to collect rents with bullet proof vests and shot guns lolI'm bias toward Toledo but it's worth considering.Wishing you much success

As Michael mentioned you just need to respond to the IRS and state this is what you're doing.

@Kyler Tarr it's good you haven't had an issue but you also mentioned your property has some knob & tube.  

The $1,500 net cash flow you mentioned represents a tightened rental return that could provide consistent passive income.

.: In a prior post from about 2 months ago, Kerry Malarkey and Nathan Gesner mentioned a small landlord is exempt from FHA requirements requiring the acceptance of emotional support & assistance animals if one of the following is true:"Owner-occupied buildings Properties with four units or fewer that are owned and lived in by the ownerSingle-family homes Homes that are sold or rented without a broker by the owner, as long as the owner doesn't own more than three at once" (Quote from Nathan's reply))https://www.biggerpockets.com/forums/52/topics/1219359-pitbu...Given this, if a landlord does qualify for the exemption, what exactly does this mean? 

But as Chris mentioned, buyer has to own the property, not a contract for deed or something like that.