Hi all,Can/Should a homeowner with housemates claim the income (rent) and a portion of expenses (landscape maintenance, cleaning service, utilities, home repairs) on taxes as a business expense, if it is the homeowner's primary residence?

I have about $300K equity in my primary residence and $550K in my rental.

If one puts their primary residence into a revocable living trust for the purpose of estate planning (which, by the way, according to my attorney meets a federal exemption from the due-on-sale clause as long as you remain an occupant and it's for the purpose of estate planning - in my case, to avoid probate if I were to pass prematurely), what about the protection on personal assets?  

If your primary is cheap then you should have enough income to finance them. 

We love it here in California, but do not think it's appropriate to buy here, since I could get multiple income generating properties for the amount I would need to purchase our primary residence here.  

I usually tell people to buy themselves a primary home first.

@Mike Osterman I'm looking in several of the stronger south and southeast markets, but my primary focus is on the major Texas markets. 

Of course, I wasn't house hacking, and already own a primary residence in Eugene.  

I'm just curious if others look at their primary residents as an investment and treat it that way.

Your primary home isn't an investment, it's an expense.