Keep track of 3 buckets.1) Owner occupied portion - potential deductions for schedule A2) Tenant occupied portion - potential deductions for schedule E3) Jointly occupied portion - likely prorated for both schedules.There are nuances to this, so I recommend looking for a tax pro who can coach you on this. 

Possible student rental, but not ideal time to rent to students.

Quote from @Andrew Katz: My tenant paid a portion of their rent for December on 12/31/24 (late).

Once we got to about 20 rentals we quit our full time corporate jobs and now manage our rentals full time.  

However, if your business owns real estate, that portion of the sale may qualify for a 1031 exchange, allowing you to defer capital gains taxes by reinvesting in another like-kind property.

Thanks for the time line information.

You filed two full year tax cycles and the numbers are similar (no greater variant than 1%) they maybe yes.Generally depreciation is added back as income BUT only the 40% portion you own not all of it.

Hey, jobs are a hassle too and very time consuming in my experience.Hope that helps and isn't trite advice. 

Hi @Raymond Kalonji I would follow what all have said here, but I want to highlight one thing while working with section 8 or any other tenant is very important "timely communication".

How do I access a portion of that equity to fund the purchase of 1-2 more MFR properties in more affordable markets like OH, IN, MI, PA, TN, or AL?