I do stocks and all but real estate mogul stuff fits me better.

We have offered to allow her to pay a reduced rent for the first few months as well but I am worried that may create some sort of limit on how much we can raise the rent on her in the future.

This might be a question for our insurance broker/future attorney, but wouldn't the LLC be formed in Indiana since the rental property is located there (versus Illinois where we will be living)?

I hope we can potentially do future business together!

Hire an attorney and proceed with the eviction.In the future, I recommend you don't accept "landlord references" from friends or family members.

., asking questions, reading through the documents, etc.) and continue educating yourself via books and podcasts so that you can leverage that expertise to do your own deals in the future.

If it's not feasible due to circumstances I suppose I'll have to adjust my situation (find weekend job, move back to NJ with parents, move to a different state with, etc.)All responses are appreciated, and I am absolutely open to chatting on the phone by the way.My view on house hacking is it can be a great tool to buy a house you could not  otherwise afford, but it shouldn’t be a goal in it of itself if that makes sense and that’s not to discourage you from investing just there are alternatives such as the stock market. so I’d start by asking where you want to live, do you want to own a single family home or does it make more sense to rent in a more interesting neighborhood like Arlington, Alexandria, that’s gonna be a personal choice, Will your monthly payment actually be less than renting/how many people do you need to get in the house to afford that?

I'd also suggest self-managing your first property to maximize cash flow and learn by doing for any future investments.

I also see your point about avoiding bargain basement properties, especially insofar as tax shielding is easier with an asset of a reasonable size.Your point about barriers to entry is also interesting, since I suppose those barriers can be geography (natural boundaries of mountains/water), but you're probably referring to that which impedes future construction?

This kind of thing happens and now would be a good time to negotiate and add to your agreement how it will be handled in future.