Purchase price: $460,000 Cash invested: $16,000 4 unit property in Federal Hill What made you interested in investing in this type of deal?

@Andrew D Hansen State income tax refunds may be taxable if you itemized on your Federal tax return and deducted the state taxes paid in that year. 

Assuming the minor is your child, which, I don't know that you'll be able to legally hire them if they're not, they'll most likely be categorized as an employee for federal tax purposes.You should discuss with your tax advisor regarding running payroll and issuing a W-2, as well as opportunities such as a Roth IRA for the child.Some people might just write a check and issue a 1099, but that's not proper if the child would be appropriately classified as an employee under law.Usually this strategy does not make sense unless you plan on paying the child at least a few thousand during the year. 

And I'm glad the federal government (as well as representatives from other states who have actually taken the time to make a fund and raise money for Texans) has stepped in: https://thehill.com/homenews/a...I'm amazed how others from other states are donating and helping all of us Texans.

Hi @Eric H.I'll preface this by saying I'm not a lawyer, but I am a realtor, and I can tell you that "No rental history" is not a protected class under the Federal Fair Housing Act.

Ultimately, I think the safest course of action is just to treat everybody the same, rent to whoever passes your objective screening criteria, don't rent to anyone who doesn't, and always know the local/state/federal laws that effect you as a landlord better than those who are renting from you and stick to them. 

You can go to the bank today as an individual to try and qualify for a new primary residence mortgage to purchase a new home (you can have usually have 4 federally backed mortgages, in theory up to 10), however you will have to qualify on your current income + assets and not your expected income when your current house becomes a STR. 

Just go to the Federal Reserve site of St Louis.

If you already have an EIN, you'll generally just keep using that.If you have added additional members, the LLC is now a partnership for federal income tax purposes.You'll want to have an attorney draft an operating agreement.Then you'll want to a CPA who has experience in these matters. 

Looking at Federal plus 2 state tax returns and associated real estate schedules.