It also has a strong rental market that would be ideal for targeting cash flow. 

Typically about 75-125 people in the room and probably half or more own or manage rentals. 

An LLC can provide a layer of protection by separating your personal assets from your rental business.

(he said there is 100 amp panel)My concerns of keeping it as a rental is liability if I don't replace everything with drywall...which would prob kill the deal for me.

Investment Info:Single-family residence buy & hold investment.I lived in this home for almost 2 years and had always been interested in turning it into a rental.

They are also easier to package, sell, and rent.

The inflation is starting to turn the rental market on its back.

Long story short, I went from 7 residential rentals to acquiring 4 commercial assets for my fund within the past 14 months since joining his group.Conclusion/Advice1) It really depends on the goals you have and identifying what you feel like is holding you back from your dream outcome.

For landlords, lease options can attract tenants who are committed to the property and may take better care of it.Commercial Property Considerations: When considering a lease option for a commercial property in Texas, ensure that:The terms of both the lease and the option agreement are clearly defined and legally binding.Both parties understand their rights and obligations, including maintenance responsibilities, payment terms, and conditions for exercising the option.Consult with a real estate attorney to draft or review the lease option agreement to protect your interests.Here are some things that may help you form a pros and cons list going forward:Advantages:Potential for higher rental income due to the option premium paid by the tenant.Attracts long-term tenants who may eventually purchase the property.Allows flexibility for both parties in uncertain market conditions.Considerations:Ensure the option fee and terms are fair and reflect the property's market value.Understand the financial implications and tax considerations associated with lease options.Be clear about the tenant's ability to exercise the option, including financing requirements if they decide to purchase.Lease options can be a viable strategy for commercial properties in Texas, offering flexibility and potential benefits for both landlords and tenants.

You will need to allocate the expenses between the personal and rental portions of the house.