Bought the house with built in equity.

Does the house have a garage? 

I'm just over the hill in Reno, NV and have successfully house hacked twice.

Mike -Forming an LLC is a good legal best practice to house a RE rental and would be a Schedule E transaction for you.

(assessed value of the house, or price listed on the ad) x the tax rate of that state! 

You get accused of taking advantage of an elderly person not only will you not get the house you’ll be in jail instead. 

House was renovated, with tenant with at least a 2 year lease, management team handles any issues, monthly rent and reports on time each month. 

Fair housing laws require that certain forms of income MUST BE considered.

I am passionate about real estate investing and I am particularly passionate about commercial, small multifamily, single family houses, apartments, notes, condos, mobile home parks, self storage, wholesaling, development, short-term rentals, flipping, rentals, BRRRR, and house hacking.Outside of real estate, I enjoy helping fix the financial goals towards retirement, help people looking for health Insurance, Life Insurance and annuities.

@Jaekwan LeeWhen I have house hacked, the properties have never cashflowed (with me living there).