Also, I'm not sure how you're paying attention to it on the tax side, but the unit that you are living in's profit at sale is calculated differently than the other unit that you're renting out.Once you move out, that unit is officially available for rent so from that point forward, any profit gained at future sale will be calculated starting from that point and will be taxable.

Income would be from hunting dues and timber harvesting, expense would be conservation management, taxes, and the mortgage.

Have you passed the tax assessment yet, or is this your first year of owning it?

However, I’d like to have a space of my own before living with others again (I plan to house hack again with my next property).I’m seeking advice on how to move forward, as I need to consider things like utilities, taxes, landlord/umbrella insurance, and managing the property, especially with someone renting my garage.Specifically, I’m curious about renting out individual rooms and living on my own for a little while.

;)Let me use a different example, and I will stop repeating myself after that.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

You’d also make all future capital gains at least partially taxable instead of tax exempt by converting your primary to a rental.

We both work in finance, so we’re pretty comfortable running the numbers.Our combined W2 income is ~$350K, and I work remotely with a very flexible schedule.We’ve saved over $200K across various assets (stocks, crypto, cash), and we live frugally, saving around $100K a year after taxes.

I ended up with 12 properties and 20k/mo in income after they were paid off.

The sum total of taxes of each of the 4 units will usually be higher than if it were apartments.