I'm not a professional Tax person.

Check your insurance, I’ve seen a lot of people specialize in renting to group homes or care facilities so there must be a commercial policy for this.

Game changer for active investor looking to get more passive investments, busy professional looking to diversify in real estate, individual investor looking to get into commercial or larger assets. 

@Steven CatudalI'm in Birmingham and invest in Birmingham, be careful when choosing properties, the house values can change by street sometimes. 1.

Next question.... will you self-manage it, or turn it over to a professional management company, or some type of hybrid? 

I heard this was an issue a long with bad or inconsistent call connection.Some of these concerns were brought on by reviews of other investors using it as I'm doing my due diligence, trying to upgrade from Podio to something more professional and robust. 

What does he care if it costs him millions?

Readers should seek professional advice.

Your equity is $61,400 (you also paid something to renovate but I'm not sure we need to care too much about that for this example).

Many investors I have worked with buy in out-of-state markets with steady job growth, strong rental demand, and landlord-friendly laws.For first-time investors, I highly recommend working with a professional property manager.