It pays the taxes, the water and sewer, and the cost to heat the property while leaving some for maintenance.

We would want to make my parents the 'renters' and we as the landlord.Question: In terms of taxes, is there something we should consider when renting to our parents?

We are wanting to start a House Flipping business and are just looking for some legal and tax advice.

By potentially halving heating costs for tenants, I anticipate fostering more extended tenancy periods, thus reducing turnover rates and driving up ROI.Drawing upon the expertise of renowned professionals like Michael Maines, Emily Mottram, Joe Lstiburek, and Allison A.

If I have a LLC and use a property management company for my rentals am I subject to the 1% earnings tax?

Remain dedicated to your objectives and keep learning as you go, regardless of whether your emphasis is home hacking for passive income, using the BRRRR approach to generate wealth, or flipping houses for rapid cash.Please feel free to join in conversations and ask questions on BiggerPockets—the community has a plethora of expertise. 

This has to be one of the least friendly states to be a landlord, and the taxes are high.

However, Florida generally has lower property taxes, which could be a factor to consider.While you mentioned your interest in multi-unit investments with seller financing, it's important to keep in mind that this can be a complex area.

It will be a business and will be taxed as such.You will need to get with a CPA in order to quantify those differences.

So just knowing the basics and directing them in the the best tax position is helpful.