1.125% origination charge $1,148underwriting fee $995Appraisal, credit report fee, flood vert fee, tax service fee $826Title insurance $559Taxes and government fees $4,255Prepaids  $1,084Initial escrow payment $1,040Lender and settlement fees (closing protection letter, e-docs, lender's title insurance, settlement fee, etc) $1,180

Schedule E is how rental income is reported for tax purposes.

@Gretchen E Harrison none of this was on your home inspection?

But, I listened to the Real Estate Rookie Podcast today with Tony J Robinson (E 37), and he is in the exact same situation as I am.

This is the area of Austin east of Hwy 183 out to Highway 130 and includes Walter E Long lake.

Residential just falls on schedule E on your tax returns.

Issue him a 1099-NEC in January if you pay him $600 or more in cash, check, or e-check for services.

If you do decide to hold on to it and rent it, like @Donald E Appleberry mentioned, finding a tenant in the current market condition will not be a challenge, as there's a high demand for housing and lower supply from what I'm seeing.

I'm in OC and currently getting my RE license working full-time at an e-commerce company.

@Colleen Weldin I recommend @Donald E Appleberry for San Diego, and @Dan Mackin for Denver!