I intend to keep h1 as a rental property.My 2018 taxes listed h1 as my primary residence. h2 was not converted to a rental property.The close, trusted friend listed h2 as their address on their 2018 and 2019 tax returns.The Ask:As I complete my 2019 tax return, should I:convert h2 as a rental as of January 2019 and take depreciation/list rental income accordingly?

It also has a 2-car detached garage that could be converted to a guest house at some point, though that is not part of any of the immediate renovation plans.

-converting it to a fully rented triplex (2 bed up, 3 bed down, 1 bed plus den in converted carriage house).

Carpet Cleaning -$300.00 Window Repair -$150.00 Deep Cleaning -$200.00 Replacement of 5 blinds ($25.50 each) -$197.50 Wall repair in basement -$145.00 Missing plug converter for AC -$5.00 Garage Remote -$50.00 Back Door Seal -50.00 Garage Door Bent and Cracked ????

Since I converted my first property to conventional, I now have an FHA available again.

I knew of one person who did 1031 Exchanges multiple times until he moved into a multiplex he bought and decided to live there and convert it into a single family home.

So, it’s not another entity to keep track of (well, unless you don’t want to convert your existing LLC).

When I convert this home into a 3 bedroom 2 bathroom and rent out all the rooms.

Investment Info:2 unit house converted (1 one-bedroom and 1 two-bedroom) buy, hold, then sold investment in Aurora, IL.Purchase price: $22,000Cash invested: $15,000This is a 2 unit with 1,290 sq ft and was built in 1915.What made you interested in investing in this type of deal?

We converted it to a 3 bd 2 bth and relocated a bedroom to create an open floor plan with a distinct separation between public and private areas.