I definitely would have my own insurance though.If you have any thoughts on what a broker would find valuable, or best approach with them, that would be helpful.  

Our company uses this as one approach to get an estimate for rent.

I’m disappointed in myself for not thinking of water and sewer charges knowing that santitation was brought up.  

I was blessed to start working with a flipper that was doing this already, so I brought my own investors into his system and then began tweaking, refining, and growing it.   

Provided you use a minimum down payment and qualify for a owner occupied mortgage this would be the ideal approach.

Depreciation is a deduction against passive income (Sch E), and it is never "written off against ordinary gains" (which is not a correct expression either way).Here is the IRS Publication 527 link.Dealing with HOA is not my area of expertise, but I suggest to approach them nicely.

@Cindy ChanIf your mother gifts it to you - your basis in the property is the lower of her basis or fair market value at time of transfer.Ex. she brought it for $100,000 10 years agoit is now worth $90,000Your basis if she transferred the property to you would be $90,000 + the cost of any repairs you made.If the basis did go down - I would prolly see if she can sell you the property.

The Tax Court therefore ignored what was “on paper”, looked at what was actually going on (“the substance”), and imposed the over-contribution tax.This approach spells the end of all the “magically stuff your Roth” schemes I have seen.

Your approach was professional, direct, fair but you set the standards so people will not feel they can do business any kind of way when it comes to you and your properties.

I'm not really sure how to approach this situation:1) I could just let her out of the lease, i.e. treat it as though the other two are assuming it.