I also had to redo part of the large bonus room because the poly would not lay flat and tended to get more and more wrinkled the further I got in the room.

@Malayna Johnson   In my experience not that many people redeem, so I think most people are buying to get the property, not counting on the 25% or 50% penalty bonus if they do redeem. 

Bonus question: what are the pitfalls here?

I also get bonuses from my company every year.

Wait until you actually get a bonus, and then decide if you want to pay down your loan. 

If it makes sense as the current numbers buy it, then increased rents is a bonus. 

I realize that's a scary proposition to drop your occupancy (I've gone through that myself recently) but also consider how much less work it is for fewer turnovers - so that's a bonus on top of higher revenue and less wear and tear on the property!

You will be able to write off a portion of your house as business use which will allow you to deduct various expenses when it comes to tax time. 3) Appreciation - This isn't one that I recommend making any purchasing decisions on however it's a bonus for investors and historically prices have only gone up even in the case of major market crashes. 4) Rent Savings - I know you aren't paying much for rent but even with the $500/month rent, you would still be paying yourself $6000/year to own vs renting.

Additionally through cost segregation and year one bonus depreciation, I received 222% depreciation which more than offset my capital gains from selling the fourplexes.

Many bonus points if they are familiar with house hacking and MTR strategies.If you have done this, was it worth it?