Hello fellow BP members, my wife and I just acquired our first multi-family home in the beautiful city of Greenville, SC.

This is the beauty with a larger property.

They do things like use comps that are in terrible shape to comp to a house that was recently beautifully rehabbed or use comps from deep in the ghetto to comp a house that is in a hip trendy good area or in one case I had the appraiser use a comp from Independence MO for a house that was in South Hyde park....10 miles away and in a completely different city!!!

The beauty of house hacking is the fact that money you are receiving for rent helps discount how much you are having to pay on the mortgage for the unit you are living in.

Then I fell into the trap of getting emotionally attached to the beautiful upgrades and furnishings and couldn't imagine opening it up to short term rentals as we spend about 30% of our time there ourselves. 

Every time someone restores a beautiful bungalow in Portage Park I regain a little more faith in humanity :) 

Sorry , so he said setting up an LLC with an umbrella policy under the llc. would protect me the most since I own a construction company and 50% owner of a beauty salon with my wife.

They have a beautiful home that, with a bit of research, I know they are sitting on quite a bit of equity. 

Purchase price: $230,000 Cash invested: $50,000 A beautiful 3/2 home in an amazing location.

The parcel is beautiful, close to Marquette, in a rapidly growing area.