![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1109629/small_1621509019-avatar-daviddelunatic.jpg?twic=v1/output=image&v=2)
6 May 2020 | 0 replies
I'm looking for some collective wisdom to chime in with their own experience on this.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1243559/small_1683576379-avatar-dominicf13.jpg?twic=v1/output=image&v=2)
18 May 2020 | 6 replies
TLDR: Lesson Learned: If you are buying a property to house hack and the unit you intend to move into is occupied with tenants and collecting rent after closing, then for tax purposes, it will be considered a short term rental.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/750650/small_1621496647-avatar-chrisb324.jpg?twic=v1/output=image&v=2)
6 May 2020 | 2 replies
I would absolutely look to turbotenant.com, hemlane.com or cozy.co they each offer similar services, but marketing, online rent collections, credit/background checks, maintenance work orders etc.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1756402/small_1695139507-avatar-jasminew70.jpg?twic=v1/output=image&v=2)
6 May 2020 | 1 reply
Will the payment on that mortgage you'll be carrying be better than the rent you are currently collecting?
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1444926/small_1695155283-avatar-davonj2.jpg?twic=v1/output=image&v=2)
7 May 2020 | 6 replies
I just want to show proof that the house is indeed part of the LLc and the rent that's collected is going towards the LLC.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/263571/small_1695833120-avatar-davidj4.jpg?twic=v1/output=image&v=2)
7 May 2020 | 10 replies
But when you have the government telling me I can't collect rent and other Government officials are pushing for 'rent forgiveness' we are screwed.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/941288/small_1694565296-avatar-maryjay.jpg?twic=v1/output=image&v=2)
21 May 2020 | 17 replies
First and foremost I would hire a bookkeeper to do this who knows real estate and talk to your accountantbut typically If you have an LLC management company and theY collect the money, and the properties are owned by the LLC, the tenant would pay the Property management company and the property management company would pay the LLC who owns the property.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1617161/small_1658431020-avatar-baileyk4.jpg?twic=v1/output=image&v=2)
8 May 2020 | 13 replies
I've heard of using List Source as a tool to collect addresses of properties.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1519752/small_1621513158-avatar-brianf286.jpg?twic=v1/output=image&v=2)
11 May 2020 | 11 replies
If it burned to the ground, they are no longer the owners and cannot collect.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1141310/small_1621509502-avatar-cmcnabola87.jpg?twic=v1/output=image&v=2)
7 May 2020 | 4 replies
Look at the landlords that aren't collecting rent due to covid.