We've owned the cabin for almost 9 years and have utilized a management company to run the every day business.

A primary residence is where your mail is delivered, where you have utility bills in your name mailed to that address, where your driver's license says you live, where your w-2 and IRS etc. are filed.A second home is a part time owner occupant and is usually 100 miles away and in a resort area.Four units in another state while you own single family where wife lives is not owner occupied. 

Apps such as AirDNA, Your Porter, Google Suite, Zapier, when utilized together can effectively handle the 75% leaving you to simply take up 25%. 

Tax returns, banking records to show income coming in and bills, rent, utilities going out.

Going back to $ 100K savings, if you buy nice luxury vehicle with $ 100K over the next 10 years, it will be worth around $ 20K.If you invest the same $ 100K into stocks & Mutual funds at 10% annual return.

Hi there,I was wondering if buying an apt in a luxurious building in Brooklyn and renting out is a good investment.

If she still needs help there are programs that help the renter pay for utilities and rent. you can offer that as an option.

And pay all of his own utilities.

He keeps utilities in his name so he can shut them off if the tenant isn't behaving.

Have any of you utilized Hometap?