This does not involve the utility company meaning that you will still have to go into the property, read the meters, then individually bill each tenant for their usage and understand the bill is still in your name.

I understand from a point I suppose.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

On top of that, the rent-to-price ratios in Detroit often outperform other markets, which can mean solid cash flow alongside appreciation potential as the city continues to grow.The key with Detroit is understanding the nuances of the market—it has a large footprint, and neighborhoods can vary drastically, even block by block.

I've seen a lot of talk about house hacking and while I believe that I understand the list of it, I'm just not confident to start.

Hi Chris, if I understand the transaction it sounds like you will receive a 1099-S for the full amount.

It is there to share the timeline, as I best understand it.Received an update 2/17/23.  

Having this information allows me to give my clients a solid understanding of current market conditions, enhancing our discussions and decision-making.

🙏☺️ I completely understand where you’re coming from & you’re right that owning real estate is a key step toward truly being an investor.I’m still new to the game, but I have a solid plan in place to move toward ownership & establish myself as a real estate investor.

@Jerry Chilimidos I am not a CPA owever my understanding is any loans to your IRA can not be personally guaranteed.