Cleveland is an excellent market to get started, and you definitely want to establish your 'boots on the ground' here before diving in - an experienced property management company is a great place to start (Bonus if they have a sales team attached - making it a one-stop-shop!).

My experience is that mobiles/manufactured homes fall into three categories, a. still on wheels treated as a vehicle and are are on rented spaces b. wheels removed, the unit is put on a foundation and skirted, on rented space c. wheels removed, the unit is put on a foundation and skirted on owned land and treated as permanent, which qualifies for a mortgage.

Some people see it as a way to get into a multifamily house at a lower downpayment and interest rate, while still providing themselves a place to live.I think the only way it would be "wrong" is if it puts you in a situation you can't afford or makes you "house poor".My husband and I rent out 4 of the bedrooms in our house plus a bonus room, meaning we have 6 roommates, but our entire mortgage is covered.

Category A is a single family residence while Category B is multifamily.

I was digging around this forum for a region specific category but didn't find one yet?

Each State is different.Some states require you to track the passive losses at the state level.There may be a state equivalent of the form 8582 or there may be a completely different state form.Also be mindful that some states do not recognize bonus depreciation so there may be some federal / state differences for rental income.

Because of material participation (I self-manage)/bonus depreciation/cost seg, we’ve been able to get all of our taxes back both years so far.We cannot keep going the way we have for two years, so that’s not an option.

I had a question: Under your "Amortization" category, why is considered a + and not a - ?

The downstairs has 2 bed, 1 bath, and a bonus room.

Thanks to the Cost Segregation Study, the property investors were able to reclassify the property into the following categories to accelerate the depreciation resulting in first year depreciation of $26,167,989.The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.