- I have a decent amount of equity saved up and own a primary home.

The biggest benefit of the house hack is defensive and to save money by having low housing payments.

Ultimately, it sounds like the decision would depend on the interest savings you'd get.

On a larger project this saves a substantial amount of money.

Joined BP about a week ago and have spent the past week digesting info here and elsewhere.  

That $200k might have saved you $50k this year.

As a matter of fact, forming it in other states could save you $$$ in formation and the long run.Bottom line, my opinion, it is not necessary at your stage of investing.

I know that I could save some money by continuing to manage the property on my own, however, I have concerns about being out of state and not having eyes on the state of the home (leaks, damages, etc.) and of course, parties.

If you are wanting info on a certain zip code just send me a PM

3rd federal savings and loan might do it they are based in OH however I think they want to be first loan holder so it would need to be paid paid off free and clear also I was told they have a heloc that they will pay a portion or all of the closeing cost I used them on my prime residence vary good rates however the rep I worked with was very vary slow with responding and pushing things along good luck I will be doing this same thing on 2 rentals soon so be sure and post what you figured out thanks