I am able to do a CMA (Comparative Market Analysis) for you with specifics based on what you are looking for, however- I just need square footage, zip code, number of bedrooms and bathrooms, neighborhood, year built and age of home/upgrades and improvements to compare.

Only the expenses related to the rental portion can be written off.Allocation can be based on the square footage of the rental area relative to the total square footage of the house.As for your deductible expenses, you will need to allocate the expenses between the personal and rental portions of the house.

I was looking at the TCU and Joint Force base area.

I would strongly advise against being a landlord in California or New York.

This is true in CA - you can't discriminate based on source of income.  

Such an agreement should detail how rental income and expenses will be split to avoid discrepancies and comply with IRS regulations.It's essential for both cousins to adhere to IRS guidelines, which require accurate reporting of rental income and expenses based on ownership percentages.

It's highly recommended to seek personalized advice from a qualified CPA, EA, or tax professional who can assess your specific situation based on the facts presented

Know your comps, know your marketI bought the house for $500k knowing that I can put $50k of work into it and get an ARV (after repair value) of $600k based on comps that sold in the same neighborhood– I’m willing to put in the work to make this happen and can take my time since it’ll be my primary residence.As a house-hacker, you’re likely choosing a property based on one of your needs (close to work, near family, etc.).

Hey @David Cherkowsky - going off of what Jaron already mentioned, there's no real "tool" to track appreciation because its very subjective based off of whats been selling in your area. 

Hi BP community,There was a recent ordinance passed in the state of Missouri (specifically the actual city of Kansas City) pertaining to whether or not landlord's can review and deny tenant applications based on sources of income.