Had my sister-in-law come live with is a little over a year in as a house hack.

Good to clarify that it is a 7 year ARM, amortized over 30 years.  

I've been in lending for over 5 years now, but this is the first time I now have to file an MCR through the NMLS. 

You will receive most if not all your benefit in year 1.Year 1 is where you will spend money furnishing the house and potentially taking bonus depreciation via cost segregation study.Year 2 and onwards, assuming you got a performing asset is where things will reverse tax wise and you will likely be reporting positive taxable income.

There are tons of rental management companies all over - do yourself a favor and don't use Renter's Warehouse, unless you want to be screwed by a company that never admits fault. 

If anyone is thinking of joining message me and I can go over everything.They helped me start and get to where I am today.I see a lot of people complaining about how bad it is.

Pricing and vacancy trends are hyper local but I've had to drop my rates significantly from last year's rates and I still have more vacant days in August than I have ever had in over 10 years.

A cost segregation study is a strategic tax planning tool that separates the assets that have a shorter useful life and can be depreciated over 5, 7 and 15 years from the residential rental property or nonresidential real property that are depreciated over 27.5 and 39 years, respectively.

A $5k overspend on budget is a difference in almost 12.5-15%.

Even if it remains steady at $6,000 per month, you will earn over $2 million in 28 years.