The only decision you can make is when to get in and when to get out.

@Theresa Harris I have already made the decision to rent it out, what I am asking is should I sell it in 2024, before I get to the 5 year ownership mark to take advantage of the tax free profit per IRS Publication 523, or should I hang on to it Long term?

They are used to helping buyers of owner-occupied homes make an emotional decision.

Hi BP team,
I’ve been trolling the forum for years and just closed on my first rental property in Philly, a triplex.Close date was 4/15 and no lie, the last 45 days have aged me with stress and anxiety(I’m 27).
I pu...

@Dean VelodotaThis arrangement sounds complicated.An LLC is an entity that is meant to hold business assets.A house-hack is normally an asset that is partially business and partially personal.I don't agree 100% that you can write off the expenses towards your side because that would mean you are attempting to deduct items that are personal in nature.Good luck with whatever decision you decide to report it for tax purposes.

Congrats though, you made a great decision buying it.

Difficult to make decisions, and can become gridlocked. 2.

Any tips or past experiences on either options would be gladly accepted to help make my decision on which route to go with.

These weren't all-encompassing features but enough for me to make a decision.

You should also consider whether you want to sell the improved lot or rent it out as that will have a huge impact on your decision.