The bill would define “investment entity” as a real estate investment trust or an entity that manages funds pooled from investors and owes a fiduciary duty to those investors.

The condo had an electrical fire about a year ago and the owner has been making mortgage payments and rent at their new place during that time.

Question for the tax pros out there.If someone inherits a home from a trust after death of the owner, and the home is their primary residence, does the two year period to exclude capital gains on the sale of a primary residence start from the date of death or the date the house was distributed from the trust? 

To me, when you say house hack, that means buying a property as a primary residence with a low down payment, living in it for a year, and then moving out and renting it.

I secured financing for my first property through a conventional 30-year fixed-rate loan, securing a favorable interest rate for stable and predictable long-term payments.

I think, whether you're ready from a cash perspective or not at this point it would still be helpful to build a relationship with some trusted lenders who have demonstrated experience with helping househackers/investors for them to coach you a bit on what steps to take now while you are saving up!

Unless I knew a really good contractor in the area I trusted.

So I did what everyone said not to do and used every dollar I had on my down payment lol.

Sales price: $900,000Seller finance: $400,000 / 2 year ballon / 7% interest rate / interest only monthly payment: $2,333 / no pre-payment feeEstimated monthly income: $9,300 / Annual: $111,600Electric separated - water $450 per monthProperty taxes: $16,700 (with property value assessed)Property Insurance: $6,300Renovation Repairs $150,000I anticipate the Re-fi appraisal to come in at a conservative $1,150,000. 

Also don’t forget that more than $700 of your mortgage payment is going towards principle.