Rents were already maxed out at market rate but they were claiming they had a lot of upside potential, when they didn't.

That would be like claiming people should ignore speed limit signs because they don't advertise the road, traffic or weather conditions.

Laws are now passed that prevent you from renting to yourself and claiming all the losses.

@Maria JeanetteHere are some of the downsides of putting real estate into a self directed IRA or 401k.No tax deductions: You can’t claim deductions for property taxes, mortgage interest, depreciation, repairs, improvements and other property-related expenses.Property expenses: All expenses, repairs, and maintenance costs must be paid with IRA or 401k funds.

Granted, house hacking isn't as destructive as a live-in flip-- it's on the spectrum of uncomfortably while having a family.While Gregory may claim it's awesome, I highly doubt it.

@Sidra Amir I work in a group home that regularly has a pest company come in and inspect for bed bugs with a bed bug detection dog.

She will never be happy with the heat, she can barely afford the place, and she's regularly late with rent.

Quote from @Dennis Knapp: they got ahold of me on fb through one of my groups and claim to be a direct lender. they seem to good to be true.

Even if it takes longer to pay off, having a steady, reliable tenant might actually be less stressful than managing an STR.FYI - consider starting with a regular rental but structuring it as a 6-12 month lease.

Those other probs have now gone away plus I'm making a lot more dough from my regular work/day job these days.