Interest rate and insurance cost in Houston will make house hack harder now but it is not entirely impossible. for particular Indepdent Height, arces homes, and highland height is a great area that is growing in my opinion. 77021 near medical center has some really nice streetLook for home that has garage apartment, duplex or big land to put up additional structure later on. look for area with low tax rate and no HOA. plenty of them around

I've most often seen it with sellers who aren't interested in doing a 1031 and they save some on taxes, earn interest, have a swtream of payments, but no obligation to operations/maintenance. 10 years or less is likely.

Way too much liability and risk out there.You can't purchase a residential property in a new LLC in NJ unless you have two years of tax returns on the entity or a relationship with a local bank who will allow it.

FSBO's almost always think their property is worth more than it is, are difficult to schedule showings with, haven't prepared the property to sell, are unwilling to negotiate, and they almost never know the sales process or have the software or the contracts to make the transaction go smoothly and keep the deal from falling apart over little things (very common when there are no agents to act as mediators, buyers and sellers have inherently opposing interests and tend to argue then cancel the deal).

I like Nevada because it's close to CA, low property taxes, landlord friendly and has strong tech and manufacturing job growth. 

After 2 weeks of forms and all kinds of little add ons to the fee schedule that magically seemed to appear with each new form packet, my wife and I simply told them no thanks..we were tired of the games.

You and your wife should discuss your schedules about coming and going.As a kid, we were attacked by a neighbor who had exhibited increasingly erratic behavior over time after his wife died and happened to fixate on us after a random interaction.

I will continue to be transparent with the agents and go through the process according to the law update.We are working on all the backend processes, 2023 taxes, you know the flow.. and hope timing works in our favor.

I understand that I will pay 10% in penalty as well as 24% of state taxes on it as well, leaving me with $50-55K.

Unless you provide substantial service (more hotel/motel like), the short term rental should be reported on Schedule E.