Anyways onto my question:There are a lot of tax incentives to having an STR if you do it yourself.

Market rents from the appraisal and/or the actual rents need to cover the mortgage payment, property insurance, taxes and HOA (if applicable).4.

Looking into cash-out refinancing and DSCR loans and all of that but I'm getting ahead of myself as I don't even have the 1 yet lol.Nobody in my family has any experience with this sort of thing so I'm just hoping someone can give me their opinion on if this investment makes sense.The home is currently being rented for 2900 total (all tenants are month to month and have been there about a year each) and my monthly costs would be 1,200 included taxes, insurance, mortgage etc.I am considering putting the home on section 8 because the fair market rent would make my monthly rent 4k+ but I'm weighing the pros and cons on that avenue.From what I understand the biggest costs to me as a home owner would be a new roof or fixing the pipes for any reason..

Land trust does not work.. there are tax implications to both parties when you GIVE back the property .. keep in mind and I have not seen one person address that..

I had the house in clean and clear condition as to how it was prior to my move-in.

After all expenses I've shown a loss on my tax returns the last 2 years and it wasn't just a paper loss.

Whenever we'd evaluate property prior to its purchase or if we wanted to get a site plan approved, we'd get a wetland expert involved.

@William Willis  The tax sale is void.

I don't know what I don't know of course (prior claims, electrical panel manufacturer, wiring etc.). 

I am thinking the following:This would be a wrap around mortgage as I still owe $165k on it.Sale Price $245k (market price)10% down ($24,500)10% Interest 30 year (please tell me if thats a bad idea)Monthly payment based on 30 yr ($1930/mo + tax and insurance) = $2448/moPlease let me know if i left any pertinent information out.Any sleuths out there can check it out. 🤓 (1032 E Tucker St Fort Worth, TX 76104)