This is more common for investors who live out of state and can't see the property in person, so they get the property "under contract" and then send a contractor or inspector if their offer gets approved. 

Probably personal preference, but if anyone has a strong opinion, I'd love to hear it! 

I own two duplexes in Beverly and have contemplated turning a unit into an MTR but LTR is just easy money honestly. 

Even if you ended up renting to another person with some of those features.

Remember, it is its own entity and has to be managed as such.  

Long-Term: Own enough properties to build a monopoly board.

If you are moving it from a personal name to an LLC there is an exemption form for taxes you also have to fill out and file along with transferring the deed.

In my experience, lots of section 8 recipients have limited access to personal vehicle.

Is this a unique form of house hacking, where the rental income from our owned properties covers the rent of our new rental home?

I currently manage my own P&L so I've got a pretty descent view of where my money is coming in/out.