When investing in real estate, don't overlook local and state taxes.

I just sold a spec, I built a house for my self last year and finished a spec this year, I bough the lots at tax sale, and I was the GC, HVAC, Tile, Flooring, Cabinet, Painter, and Misc. guy, made a nice profit, but the crappy part is taxes, its like a flip, short term gains. good luck!

It's a good idea to talk to legal and financial experts about taxes, insurance, liability, rental agreements, and managing your finances.

Look at your monthly payment (PITI = Principal,Interest, Taxes, Insurance) + HOA + (other maintenance fees if any) and if this amount is less than what you charge for rent (whether its Long, Mid, or Short Term rentals) and you are happy with the positive cash flow, then yes.Or maybe you're breaking even with the condo but you have  knowledge that the condo will explode in value due to some business/attraction/law/policy that will prop-up the sales price in the near future, then yes.Really, it boils down to what your goals are for this first investment.

But one undeniable benefit of house-hacking is to ability to reduce w2 taxes for primary residence with interest rate payments.

The life estate will spell out the obligations of the step-father (taxes, utilities, insurance, upkeep - or even a base rent that you could use to cover those costs).

Specially, as it relates to taxes.  

Additionally, they engage in charity work and support Christian ministries, which may resonate with those sharing similar values.Our financial advisor initially recommended SDIRA Wealth for its tax strategies, and it has proven to be a solid choice.

However, the lodging tax is NOT included in this average daily rate. 

I'm of course bias, but I chose Reno because of it's proximity to CA, no state income tax, stable job growth, population growth, land constraints (constricted supply), proximity to Lake Tahoe, etc.