@James FelderHouse hacking makes your tax situation more complex.You purchased a property that is treated as both an investment property and a personal residence.

House hacking will make your tax return more complex.Your property can be treated as both an investment property and a personal residence.

Just treat each line item as an investment and make sure it makes sense for you and the goal of the property.Best of luck.

A pressure treated 12 foot 2X6 is $17.57 in my area.

The tenant pays their rent, they have a place to live and a Landlord that treats them fairly and honestly.What if you're busy rewarding the tenant for mowing the lawn or paying rent on time and then six months later you inspect and discover their dog has trashed the carpet or dug up the lawn?

Partners can be great, but there are a ton of caveats with that setup as well - treat it as serious as a marriage and make sure you outline what each partner's responsibility is going to be in the deal.

BUT, it's a path that is more normal than you'd think, one that you CAN and SHOULD master, and one that presents an opportunity to build rapport with the tenants and set the precedent for how you will treat one another (and honest is a great bedrock for that treatment)

It should be treated the exact same way as an LOC or just a business loan.

I encourage you to think of your rentals as a business owner and treat them as such.

The potential of family members investing points at LLC treated like partnership with K-1 forms.