Check with the county to confirm you can do this.

You can even use some of the equity from this property to reduce the down payment burden on your next home without "throwing away" the value you've built.

There is way too much liability in placing this type of tenant.

Here’s a quick checklist to cover your bases:Property Condition: Get a thorough inspection to assess major items like the roof, foundation, and HVAC—this helps you plan for any big repairs.Financials: Account for all costs, including taxes, insurance, maintenance, and property management fees if applicable.

We are currently in the process of Renovating this home built in 1965 and plan to have completely transformed it by spring 2025.

To minimize this tax burden, consider the following strategies:1.

I have done this several times.

I want to help the maximum number of users possible.

Quote from @Sonja Revells: @Chris Seveney primarily Padsplits  I would speak to a few lenders first before going through all these hoops, as I started to do this then when talking to banks they were basically telling me either get a secured mortgage as they will not lend to a real estate company on unsecured credit/debt.

will see how this goes..