There’s a small annual fee for registration, so make sure you stay on top of this to avoid penalties.2.

My method has always been to call every listing that hit 90 days on market in areas that I want to buy.

@Dwane Twente so this is basically a rental arbitrage company.   

The second year (2024) might not be a loss because there is no cost segregation, so personal usage doesn't matter that much. 

Listings come from nurturing your database for years, so if you are new, you have to pick a niche or an area that you have a competitive advantage in.

Chicagoland is extremely tenant friendly so understand that going in. 

You want to show the tenant you are ready to call their bluff.

I’d be more than happy to hop on a call with you to discuss the different areas and explore how you might make it work.

My advice: don’t overthink it—your first house hack is about learning, so pick a strong rental market, ensure solid demand, and lock in a deal that gets you close to break-even or better.

I have some time now if you'd like to hop on a call