These traditionally have lower rates than cash-out refinances and will only cover your existing loan amount + closing costs, so you'll need an existing mortgage for this type of loan.4.

House hacking is a great way to build wealth while keeping your living costs low.

==========================My relative is asking if this is a viable way to legally avoid having to pay taxes:STEP 1: SELL PRIMARY RESIDENCE (House A)-Sell primary residence to son-in-law for cost basis + $500K-File gift tax form for difference between sale price & market value-Not pay capital gains on $500K due to personal exemption.STEP 2: SELL RENTAL PROPERTIES-Do 1031 exchange and buy House A back from son-in-law-Rent out House A for 1 year before move back in==========================Thoughts?

To offset costs, I’m planning to buy a duplex and pursue a house-hacking strategy:1.Rent out one unit as a long-term rental.2.Live in the other unit and rent out the bedrooms as short-term rentals (STRs) through a furnished rental approach.Before diving in, I have a couple of questions:1.Can I use a property for both short-term and long-term rentals?

I made the mistake of letting someone get in one of my first units that was a bit off the 3 times, they were great tenants very kind and enjoyed their stay and experience with me, but could not afford it when I increased the rent on them, which is something you will have to do because of rising insurance/tax costs.5.)

Most sellers are going to want 20-25% down as it’s going to cost them 10% to sell.

Hey @Matt Smith 👋🏽I agree that it's not worth renovating the basement - too costly.

Especially for the cost.

Baselane, on the other hand, provides everything you need at a reasonable cost and is tailored for smaller landlords like us.

Variable cost and CapEx are where I see most investors make errors on their Pro Forma.