We like this idea, and we currently rent, so it wouldn't be hard to move in 6 months, but how beneficial is house hacking on a project like this?

Hey James, A withdrawal like that will still have the 10% penalty, but cost seg will help offset your business / 1099 income here as an agent if you qualify as a real estate professional.

The flexibility worked out better for them in the long run.Here’s the thing though.. if you’re really gunning for the 60% bonus depreciation in 2024 before it drops to 40%, you might want to negotiate with the seller to honor those existing rentals only until mid-December, like you mentioned, and take over self-management for the last few weeks of 2024.

Even though I know the numbers well from my previous experience, I’m sure there are some unique challenges when it comes to flips—like managing renovations, timelines, and of course, staying on budget.For those of you who made the transition or started out flipping, what’s something you wish you knew before your first project?

Trying to find people that can share kitchens, bathrooms and more is like babysitting.If serious, look at companies like Padsplit.BP so far, doesn't have any service for finding motivated sellers.

Years ago, I could file claims for small, even minimal, damages on my rental properties, like a few fence pieces blown off during a storm.

I'd encourage you to also set up some keyword alerts for "Hartford" and related terms like house-hacking, duplexes, etc.

I experience behavior like this every day.You may not like what I have to say.It seems that the biggest problem was how you managed the process. 

If you like the margins, go for it. 1 thing though, double no triple check your rehab & ARV numbers.

I have called a couple of local banks, including the one that my mortgage is through, as well as larger banks like Bank of America and Rocket Mortgage.