. 🛑🔍🔸 This move reflects a growing dialogue on rent stabilization and affordable housing, amidst rising rent prices that are burdening residents across Virginia.

New to Bigger pockets forum, i’m here for knowledge, connections, and eventually when i’m able to, i’ll be more than happy to teach whatever i’ve learned along my journey to help others… together we can grow further faster! 

Their agent, who was one of the worst agents I've ever encountered, probably doesn't understand how any of this works, probably talked them out of it.Was originally listed for $525k and we bought it for $443k with a new roof and a fairly long list of stuff being fixed at their expense. 

As for a potential risk,  Flood insurance is an ever evolving risk, consult with a good insurance agent on the ins and outs of flood. 

Not a huge a mount of cash flow and since only 1 property, want to minimize the fees as much as possible but also setup a process that can grow with me.  

I lived in the property up until my my family began to grow and we fulfilled my dream of turning it into a long term rental.

Each participant in her program has to commit to going back to school/job training and she works with them to improve financial literacy and grow their income.

@Brett Dudley - we have yet to see any court cases for what happens when an STR becomes a LTR, but the IRS looks at facts and circumstances... since you are on public record by posting here that your main concern is the tax benefit, it may not fall in your favor during if you were ever audited. 

I also live in CA and invest exclusively out of state, so if you ever want to chat about that, reach out!

I pay the extra 80 bucks or whatever it is for audit representation if it ever happens.