I have one long term partnership that we share capital but I still do all the work ( rain maker) he is a cpa so he does do the books and tax return though :)  WE built one subdivision together were he put in 500k and I made him 1.2 mil in 18 months net profit so that was not bad.

From there, it's easy enough to look up the tax rate for corporations and make your tax burden assumption.

It's a ridiculous mandate by the legislators who thinks they'll save the environment on the back of tax payers.my point stands.

However, I’d like to have a space of my own before living with others again (I plan to house hack again with my next property).I’m seeking advice on how to move forward, as I need to consider things like utilities, taxes, landlord/umbrella insurance, and managing the property, especially with someone renting my garage.Specifically, I’m curious about renting out individual rooms and living on my own for a little while.

It is a tax write off.

The taxes and insurance sound like where we are in St Augustine and NY. 

Always consult with your attorney before you rely on the above information.

I didn’t see your location in your profile or your post, but assume at least 17% state/federal taxes leaves you with $10k/yr. 

Quote from @Jeff Roth: Hi Lina from Texas-Congratulations on your interest in investing in mid-term rentals and you are wondering how and where to get started.I get this question frequently from investors.Sometimes and investor is looking to keep their property cashflow positive as insurance and taxes have squeezed cashflow by turning units into mid-term or short-term rentals.First off, ideally, the property will cashflow as a long-term rental should something disrupt the mid-term rental model.You will also want to have the property be near where there would be a demand for mid-term rentals (hospitals, universities, research centers).Monthly rents for mid-term rentals are about 20% (+/-) higher than unfurnished similar long-term rentals.There are property managers that will manage mid-term rentals for you and I always advise my clients to use property managers to keep their investment as passive as possible and for compliance issues related to Fair Housing Laws and local regulations.To Your Success! 

The city is still getting property taxes.