Given the fact that I’m single and have zero dependents I figured it may make sense to move to the new house for at least a year to get a primary residence mortgage with a lower rate and rent out my existing house as a furnished mid-term rental.My question is around taxes: my current home needs significant repairs and updates (about $20-30k’s worth 😬) before it’s ready to be rented (the pool enclosure went partially down during a storm among other things).

#s based on duplex I’m being shown420,000, rate 6.25%Mortgage payment: 3271 + 225 HOA (increase $65 starting July) =3561Currently paying 1200 in rent + utilities.I know you’re going to scream at me for this.

I can't send rent if I didn't collect it. 

@Mark Peeples it's buy and hold and rent out to tenants as a mid-term rental unit.

The stigma of bad/crazy/poor/drug-using tenants has always deterred me from considering renting to those who have vouchers.

Should I rent it room by room while keeping the residences separate?

During this time, the rent has increased by $650.

Perform a detailed financial analysis to determine the viability of renting out the property.

If we put a tenant in the house we will have to pay the state back their $8,000 of assistance.Loan Balance: $150KCapital Required to Rent: $10K ($8K to pay out the state and $2K that I put into professional cleaning and new carpets.) 

- 3/2 - all Brick - No Flood Zone - No pools - No Deck - Built in 2006Original tenants have remained in the property with yearly increases to rent.