Also, many agents position themselves as PMs in order to create additional income, but in many states, PMs are not licensed or regulated, so it's likely that they have no idea how to be a PM, they don't have any processes in place and don't know how to manage tenants, owners, etc.

I want be sure I am taking advantage of everything available to so that when it comes time to file my 2018 taxes I have put myself in the best position possible.I am hoping this book will provide that guidance, but would love to hear some feedback from anyone that has already purchased it.Thanks,Jenn

It's been a learning experience, but I have decent positive cash flow, so all is well. 

The term House Hacking was created for the thousands of Millineals and anyone else who want to appear to be in a better position than they really are, it's just a part of our "Look at me" culture.

In your position I would pull the equity and invest in a cash flow multi unit. 

I use to report on Schedule C, but now will be using form 1120 to report the earnings/expenses of the business and my salary will end up on my 1040.   

We also talked about potentially doing each deal as a separate structure in case we are in different positions for each.

After assessing these variables if you're more than (XXXX) years of after tax income positive, I'd sell the property instead of renting, The (XXXX) number is different for each investor based on their business plan.

Exception would be like an on-site property manager on a salary.

The major cons include high property taxes, difficulty finding positive cash flow (especially when using property management), and slow rent growth due to, among other things, rising supply of multifamily units being developed all around town.