Wanted me to pay for all their supposed expenses by reducing the rent.

Nothing is different with Airbnb other than those hosting avail privately owned real estate for commercial purposes and only here its at the hosts’ personal expense to acquire the license and pay the tax.

Rental bought in 2023 and initial return.For assets - Cash, depreciable assets less accum deprn, landFor liabilities - Open credit card balances (Charged rental improvements and expenses on 0% interest credit card)Partnership equity - Cash contributions less net lossMy assets are greater than liabilities + partnership equity

Quote from @Jay Hinrichs: but I wont totally quit I have too much expensive wine :).I'll be right over :-)

Open up a separate bank account just for your rental activity.At the end of the year, export the date into excel and properly classify each transaction as income or an expense.

It's expensive though...always has been, always will be.

I’m a truck driver recently just moved out my apartment to cut expenses and start this journey of planing the long game with real estate.

Analyze the finances in detail to understand the potential ROI, cash flow, expenses, financing costs, and tax implications of each property.

Either way, we really liked the idea of WY entities at this point for the Anonymity factor alone, but the lower fees and charging order protections they offer were really attractive as well.

However I hear the same thing about most rehab owner occupied programs and the rate on fees on this is a lot lower than a 203k or home style.