Call it a house hack or not who cares what you call it!

I always think it's a good idea to try to keep tenants who pay on time and take care of the home so a smaller increase is a smart idea in my opinion.

Reaching out to the BP community for  recommendations of tax and legal professionals close to my area specializing in real estate investing. 

Readers are advised to seek professional advice.

Hi Caleb Rehg,If you have employees you will have to pay quarterly PAYROLL taxes, but these can be taken care of by a payroll servicer such as Gusto or ADP.Otherwise, if you expect to have a substantial net income from the rental property at the end of the year, you may opt to make quarterly estimated tax payments so that you that you don't get surprised by a tax amount owed with your tax return.

I agree with what the other posters said regarding tornados, thats not a big thing to worry about and if it where to happen insurance would take care of it.

Have the deed holder be an entity (the exact entity and state of filing should be determined by your legal counsel with input from your tax professional). 2.

Yes,it seems due to the Cares act and moratorium that ended 7/2021 we are only back up to about 78% of the number of monthly foreclosures of about 35K a month but yet there are over 2 million delinquent loans currently because they are not actively foreclosing.

Anyway, lesson learned and I'll be keeping an eye on these  type of transactions ever more carefully as I continue to mature in my real estate investing trajectory.

I would suggest getting with a tax professional to assist you since there's a lot of variability depending on your specific situation not only on a federal level, but with state reporting as well.