Greetings, I'm Sean Vitale and I found my way to BP through Mister Money Moustache on a search for financial freedom. 6 months ago I had no financial plans and I almost bought a single family home with no understanding of what that meant for my life or how it factored into the big picture. 

And the probate process pays the final tax bill for the person and the person's estate prior to closing.A probate case is considered open until the final distribution is made.The main problem with buying a house for someone who inherited it and they did not do probate, or they started it--opened it--but did not like the oversight or process, then they just stop following the probate rules (sell stuff, pay bills, then distribute assets/money) and sell the assets as a real person and the money does not make it to the estate, then the sell may be considered fraudulent and reversed by the court overseeing the probate case. 

If the buyer assumes your LOC loan, it is factored in as you received a boot.

It factors in their rank, how many dependents they have, etc. so based on the house size and who your targeting the rent may be too high.

@Zach Becker The main thing is whether or not your CPA can file Indiana state tax returns for you. 

@Bryan Johnson In the investing world there are 2 main types of loans: "Conventional, Conforming" and "Portfolio" loans.

does anyone what factors are used in determining the "class of house" when purchasing property? 

I have narrowed my view to buy and hold mainly, for stability as well as less risk in starting, than some of the more fast paced options.

Tenant A has a family of 5 and rents the main part of the house.

One of the main reasons being is that I'm planning on financing through FHA / 3.5% down.