This will also allow you to make any needed rehab to force appreciate the property.Best of luck!

A SMLLC has no impact on your taxes. 

@Sam Horton Thank you for the feedback, I am planning on using my VA loan, I am blessed to receive extra benefits from the armed forces, will I need an LLC or do continue without, should I acquire a real state license or not?

You can ask for your broker to factor in debt you don't have yet and tell you what the impact will be.

Hi @Nick Philippakos  house hacking in NJ with 50k can be tough, does not leave your friend with mush cushion and likely forces him to go turnkey which the majority of the time leads to House Hacker getting stuck in the property for many years since they have not acquired significant equity.  

I argue that the contractor hasn't waited for any finishes from me because I was keeping well ahead of his need for them, but he argues that not having all the finish materials in place is too disruptive so it forces him to go slowly.

More of a request then a force.

As far as financing goes, I wouldn't expect the month to month leases to have any impact.

And any basic rehab (carpets, paint) aren't going to force too much appreciation. 

Not a non emergency police force : )  Just a non emergency police phone number.