HUD-1 settlement statement was a standard form used by Housing and Urban Development agency. 

IRS Publication 527 is a useful guide.If you rent the house out long-term, you’ll depreciate the asset over a 27.5-year period.

Hi BP Community,  I have a short-term rental (previously Airbnb) that I turned into a long-term furnished rental because the neighbors house was damaged by a storm.

After changing careers and finally getting settled in a new house I am reading the books again. 

I don't want to buy a house that need major roof work.   

There is demand for this type of housing, and buyer-landlords can achieve a decent return on investment with new properties while benefiting from long-term appreciation.While Worcester may not offer the vast expanses of land seen in other cities, thoughtful development and strategic investment in Build to Rent projects can meet the needs of residents and provide solid returns for investors.

Is this a unique form of house hacking, where the rental income from our owned properties covers the rent of our new rental home?

If you’re looking for good cash flow you might want to consider properties in some of our cities as there are a lot of housing voucher clients looking for housing and the some of the programs pay reasonably well.

As a beginner, you can learn a lot from your uncle with a few rentals in another state or a co-worker who's on their second house hack.

I think you might put yourself up to legal risk from the family once they find out they aren't getting the house and take you to court for them singing under duress or another circumstance where they were not of right mind.