Payments that you make normally fall into one of 3 buckets100% of the payment can be factored in somewhere on the returnPartial payment can be factored somewhere on the return0% of the payment can be factored in somewhere on the returnHouse-hacking also has considerable tax implications in the event that you want to sell this property.You can potentially defer a portion or all of the gain on the investment property with 1031 exclusion.You can potentially exclude a portion or all of the gain on the personal residence with section 121 exclusion

The industry is pretty new, as funny as that sounds, so alot of the info and content is being created in non traditional ways like podcast content. 

Originally posted by @Luis Fernando Botero:Thank you Alicia, so far my contractor has done 2 site visits and has not charged me but since I am a new investor wanted to know if I should be paying for the visitsIf you are currently working with them exclusively, they are likely not charging you to help build a better relationship going forward.

The entity docs leaves it to our discretion, just wondering what the norm is in the industry. 

@Isaiah FranklinIt would depend on your goals and views on what is a "short-term rental" but I noticed you're from Cincinnati which has a strong healthcare presence/industry. 

You can make money with new homes, clean homes, industrial, commercial, etc. 

Be honest with yourself about how much you know about this business/industry (home rentals) and how long it might take for you to make back what you put in. 

For the past decade ive been in the real estate industry, property management, tenant placement, fliping, apartment repositions, real estate software etc.

I don’t know what companies are in that area, but I’d encourage you to call a handful of them and ask about cleaning and handyman services exclusively.

With the 250K exclusion, I'll pay no tax on the gain and have 400K cash in my pocket.