i’m Twannisha Jackson. i’m house hacking in cleves, ohio. i have a question about paying the mortgage down & what’s the best option?

You have many possibilities:Research Contract for Deed & Seller Carry back financing.If they were able to qualify with a non QM lender for the 1st Mortgage  you could possibly have a 2nd position loan with an equity participation component. 

This will cover the mortgage payments. all of the additional expenses I will cover out of pocket (escrow account).

Someone gets injured in the basement your home owners insurance probably will not cover it and the liability would be pushed back on you.Would suggest discuss the finish with a Licensed Contractor, Licensed Expeditor and maybe a zoning attorney in regards to adding a unit to current zoned two unit converting to a 3 unit.Also, when buying a two unit and converting it to a 3 Unit, read your documents with out knowledge of the conversion the bank holding your mortgage could call your mortgage.Let me know if you have any questions.RegardsJoe Scorese

My very first real estateinvestment was a note & mortgage creation with a sale of thatnote/mortgage at closing.

Also search for your top 2-3 names online first prior to landing on one.

There is always a deal somewhere and if you have professionals helping you (mortgage broker, realtor, cpa, etc) lean on their knowledge.

The most obvious is that you will be able to offset your mortgage with renting out a few rooms.

I looked up the most recent form online and visited the state's website and it does mention that starting in 2023, PA conforms to Fed IRC 1031 but it does not say HOW to report it.Can someone PLEASE HELP?!

Also, there is no visible mold and no mold smell in the basement (there is a little on the caulking beneath a single pane picture window upstairs which I'll deal with).That didn't sit too well with the tenants as they have been looking online and finding information about how dangerous it might be, and it didn't help that the first report that I had done the inspector attached a boilerplate message recommending a full HVAC cleaning (ducting is 1 year old) HEPA vacuum, air scrubbers, double washing everything in the unit with bleach, etc. so now the tenants are being fairly combative and insisting that more needs to be done.