This ensures compliance and may help with future tax benefits.Kansas: File a resident return, including the Missouri loss, which can offset other income in Kansas.Even though no Missouri tax is due, reporting the loss properly in both states is essential.

Good property management will help to eliminate tenant turnover.  

House hacking a 2-4 unit property with FHA (3.5% down) or Conventional (5% down) can be a smart way to start, while DSCR loans or partnerships can help if you need alternative financing.

Thanks for your time and help,Melissa   I’m going to provide some alternative advice.  

Real estate is a slow game, but over time, it can help you build significant wealth.

This will help you close deals faster.Focus on marketing and lead generation to find motivated sellers—direct mail, driving for dollars, and online marketing all work well here.Know your numbers—being able to accurately assess the value of properties and make solid offers is key.Network with other investors and professionals—attend local REI meetups, connect with title companies, and build relationships with hard money lenders.Feel free to reach out if you ever want to chat more or exchange ideas!

Knowing these boundaries can help you zero in on profitable, compliant locations.Timing is crucial when it comes to approvals.

My suggestion would be to cap your utilities at a certain amount and have Tenants pay anything over that amount.That will help you manage your expenses, and also allow Tenants to gage their usage each month, and make adjustments if they don't want to go over the allotted amount.As far as collection, provide the bill showing any overages and just have them pay for it along with their rent. 

My weekly podcasts will also help you get a better feel of our market and then might help you learn our market quicker and with more data. 

Since your first house hack will cash flow when you move out, that helps balance the risk.