I’m fine with this, for now, as a long-term investor.I don’t believe our current situation would enable us to qualify as Real Estate Professionals, which would result in massive deductions.

As it is we both have a strong desire to buy a SFH for ourselves but currently house hacking is a better solution because that other rent is paying our taxes and water and sewer bills and for some mid range priced renovations to the property.

. - The land was homesteaded under the same parcel ID as our primary residence as it was next door and will be carved out at sale. - We have lived in the house more than two years

@Alecia Loveless i did not include our one heater to be oil. 

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

I talk to folks all the time that contact us for our line of credit product that it is just not suitable for after they explain their plan. 

My wife and I think we found a good property for our rental property journey.

We currently keep a tight audit on our STR in Dallas to make sure everything is tip top before future guests check-in and I know that won't be possible with a property at a distance.Any feedback/advice would be greatly appreciated!

A quick search suggested that the following surveys could be completed in the diligence phase of self storage facility acquisitionBoundary Survey: ALTA/NSPS Land Title Survey: Topographic Survey: Site Planning Survey: Floodplain Survey: As-Built Survey: I'm curious which of these are necessary versus nice to have

Most of our clients prefer the middle/southern part of the country because the price points are much easier and the laws are landlord friendly.