Separately I have a non paying tenant I am evicting which will cost me c10 months rent but that is another story and buyer beware in dealing with NYC tenancy and housing laws - advice is hire a lawyer from day one of nonpayment.Two questions for the forum:1.

I would like to set up an LLC for my house, but there's not a lot of information out there on building a rental property in your house.

My goal is to house hack a multi-family and then move out after 12-18 months when I am able to buy my 2nd property. 2 of the units are under lease agreements. 1 unit is vacant (which I would be living in).  

How much can the house afford to pay in terms of rate?

I’m just starting out and want to house hack through small multi families.

I have a STR house in a resort town, but the city’s new stricter policies have really cut into my revenue.

You've probably heard of big Landlords losing property, but only because they were flagrantly violating Fair Housing, running a slum, or otherwise violating the law in an egregious manner.

About 9 years ago.(2) additional interest gained when first owner passed leaving me and the other joint tenant as 50/50 owners.

Hey @Henry Lazerow - I would tend to agree that most of the NW side of Chicago 2-4 units don't play out perfectly well for BRRRR deals.I always looked at any potential house hack vs. having to rent - if my overall payments were less than the rent I generally considered that a win.For me...the house hack is just the ticket into the amusement park and then the fun rides come after...getting started can be overwhelming and hard so I can see why people might take a discount.I think one of the keys to strong equity creation is square footage creation which is basically what you outlined with duplexing up or down.

Hello Everyone,In the next few months, I'll be in a unique position where I can potentially pay off my house.