These include irregular but inevitable expenses, such as vacancy rate, repairs, maintenance, accounting, insurance, property taxes, and property management.

Not a rental first and then your primary.)You can defer the taxes by reinvesting the entire net sales proceeds (including mortgage payoff amounts) or more in a new rental, this does not apply to primary homes.

If you can’t afford professional photos you shouldn’t be house hacking.Make sure your listing description includes the following items:RentIs utilities included or not?

@Dana PowellMost lenders will order a 1007 appraisal that includes an analysis of the market rents even if you have signed leases. 

We offer all 3 options (4 if you include email which go to a unified inbox). 

This puts us somewhere between 18-27mo pending sale.Land Acquisition: 1M + 50K in closing costsHard Costs:Demo: 50KConstruction + Architectural Plans (survey, topography, permitting included) = 1.6M + 80KPool: 100KSoft Costs:Appliance package: 50KFurnishings: 75KLandscaping: 20KAnnual Carrying Costs (utilities/property tax/maintenance): 45KTOTAL: 3,025,000.00 After speaking with two lenders, it seems the best course of action would be to put 20% down on land for 12mo/interest only.

Milwaukee has plenty of great areas for investing including many of the areas that have been big in the manufacturing in the past and are now being revitalized.

This typically involves making regular payments, including interest, over a specified period.

Therefore, I'd figure out how low my occupancy and rental rate can get so that I at the very least break even.If you want to get ahead of the competition, you might want to try to get something special.

From my understanding, if its passive income, just a room-by-room rental, it would go on your schedule E just like any other rental. if its active, like a short term rental situation or mid-term, something like an airbnb or bed and breakfast where you're actively including extras, it would be filed on a schedule C. disclaimer, im not a tax person, so double check this with your tax pro. when you go to qualify for your next purchase, whether that's for primary or inv., using a full-doc loan... if its schedule C, you would need to do a 2 year average of this income in order to use it. its looked at as a business, and self employment income. if its schedule E, theoretically you could use the schedule E income calculations just like any other rental even after the first filing.