You'll have depreciation of roughly 20k a year for the next 27 years so that means your 5k profit will be tax free plus you can offset your regular income and maybe save 3k in taxes there.

I use tenantbackgroundsearch.com, although many of the vendors provide automated reports that are nearly identical. 

I own regular apartments as well and I've found that I don't spend any more time managing the rooming house than I do with regular apartments. 

Regularly treat the line with a product like this: https://www.amazon.com/Roebic-FRK-1LB-Foaming-Killer-1-Pound...Save up money because you will need to replace that line eventually.

I was going to run an STR in the home and he would enjoy a higher rent than from a regular LTR rental AND he would have the property managed too.All was going beautifully.

I wrote another post last week, and will continue to do so regularly to chronicle my parking experience. 

@Walchli DonnaIs this where you take a line of credit and use it to pay your regular mortgage but put all your deposited money into a HELOC?

Properties meeting at least one of the following criteria will not be eligible for Citizens Personal Residential Multiperil coverage:Rented to guests more than three times in a calendar year for periods of less than 30 days or one calendar month, whichever is lessAdvertised or held out to the public as a place regularly rented to guests

I lived in SF for 8yrs and am out there regularly (including next week).

I regularly attend workshops and seminars to stay updated on industry trends and best practices.