I understand the odds of collecting are very low, but once in a while, it seems like a tenant will pay if they need a house loan.If you also know a good collection agent, pls feel free to PM me.

LegalZoom is $299 and RocketLawyer is free (already subscribed).Based on the set-up questions LegalZoom seems more succinct/precise for a trust with a single asset.

Any questions please feel free to reach out!

Recently bought my first foreclosure, rehabbed it, currently house hacking, living for free, and making $400 in cash flow. 

If you have further questions or need more clarification, feel free to ask!

Feel free to reach out with any questions! 

I would also argue that there are plenty of landlords out there that have rentals which are currently below market rental price.I assume that this part of the tax code was created to prevent those with multiple homes from letting relatives live in one for almost free, while potentially hiding that rental income and not having it registered as a business and pocketing the money.  

Closing costs vary based on State and County for Taxes, Insurance, Doc stamps, transfer taxes, Title, and every Bank/Lender requires different points/hard costs.If you have any specific questions of if your just getting started feel free to message me or reach I out. 

Its tax free money...You can then hold on to it just making 5% in a money market fund with next to no price risk. 

Feel free to reach out if we can help in any way!