In order to create rental revenue that can cover living expenses and provide positive cash flow, it entails buying a single-family home and renting out the individual rooms.

I am currently focused on tax strategies for our LLC (partnership with spouse).Can we sign a lease agreement with our LLC to provide/pay rent for use of our personal home/property, to include a portion of utilities, HOA, and insurance?

However, it would provide us with the necessary funds for the repairs and potentially a down payment on another property.

Factors such as age, fire protection of the location, alarms, construction, proximity to a coast, etc. can impact the rates.  

I can provide you with an REI approach that we use in to get you started.

I should probably provide some additional insight:1.

Previously I had my head in a different direction and now I would like to start learning how to do these activities to provide a better life for my wife and daughter.

Happy to provide a market analysis on your units to see what you should be getting for them. 

If your return of equity is below a 5%, I say redeploy the money into an asset that can provide you 8+ % cash on cash returns.

I reached out to my attorney to contact the previous owner to provide them.