Tax free on the gains if your primary residence for 2 out of 5 years.  

.$125k purchase price (20% down) @ 7.5% over 25 year term: $739Property Taxes: $125/moInsurance: $175/mo (in 500 year floodplain)Net Cashflow: $411/mo*Obviously, I didn't include property management fees, vacancy, nor repairs/maintenance.

Once you know what’s possible then you’d likely want to evaluate affordable housing grants, tax credits, tax incentives, etc. 

Then later find out in underwriting that the loan officer did not calculate income correctly or used rents that do not qualify.You want to ask to see the math to see how are they running the approval it’s not just income, and rents it’s also what are the annual taxes and annual home owners insurance they are using to qualify.

This can be accomplished by hiring a service for a fee.

Hey @Amir J Reichental, There are small pros and cons to this: Home Address:Pros:Privacy: Providing your home address keeps your personal information private, as it's not tied directly to your business.Convenience: If you're already receiving mail and other communications at your home address, it may be more convenient to keep everything in one place.Cons:Risk: Using your home address exposes it to potential risks associated with the property owned by the LLC, such as lawsuits or creditors targeting your personal assets.Tax Implications: Depending on your jurisdiction, using your home address could have tax implications, especially if you're claiming any tax benefits or deductions related to the property.LLC Address:Pros:Asset Protection: Using your LLC address helps separate your personal assets from your business assets, providing an extra layer of liability protection.Business Image: Using the LLC address for business-related documents can help establish credibility and professionalism for your company.Cons:Public Record: LLC addresses are often part of public records, which means they may be more accessible to anyone who wants to find information about your business.Mail Handling: If you don't have a physical presence at the LLC address, you'll need to ensure mail forwarding or a reliable method of receiving important documents.Ultimately, the decision depends on your specific circumstances and priorities.

Any tips or resources would be greatly appreciated.Tax Professionals: I'm in search of a strategic tax professional who specializes in real estate investments.

Profit/Loss Statement and Balance Sheet for the Property: At a minimum, we would want a profit/loss statement and a balance sheet for the most recent complete year as well as year-to-date for the property, but we would prefer to also get the last 2 years of tax return pages for the property.

In the calculator snapshot above, it shows a "Management Fee" of 0%.You don't want to be the property manager, but property management is an unavoidable cost of operating a rental business.

Nevada has lower taxes and more landlord friendly without the hassle of traveling to the midwest.