My name is Sheila Richmond Young, and I'm new to the real estate industry.

Consult with a real estate attorney and a tax counselor to determine the optimal transaction structure.Good luck!

Congrats on all of your success in the real estate industry!

@Doug Webb for commercial class residential (5+) units, the general guidance you'll get is that you should be taking possession via an LLC, as there are no real advantages to not doing so besides the minor overhead of forming and maintaining the entity.

I'm Shelby from Pensacola, FL, brand new in real estate investing with only one rental property currently.

I've been passionate about real estate investing for about a year now, and I'm particularly passionate about property management.

I'm Lindsay Conley from Smyrna Delaware, passionate about real estate investing for 10 years.

When completing a refinance, we generally do want to see that an investor owns their primary residence.

There is also one big issue with your tax projection - the taxes of $280 are based on the vacant land taxes and will likely go up to ~$2000-$3000 in a year or so when the assessor catches up with you.I realize there is a 1031 involved so a real estate purchase is necessary, but you should compare your ROI to a safe yielding instrument like a 10 year T-note or AAA corporate bond yield. 

From the cities' websites, most cities (Somerville, Medford, Waltham) only allow the primary residence unit to be rented out as STR and South Boston and dorchester allow any units in the multi-family unit that you own can be rented out for STR.