While I do not have an official W-2 currently, I do have a steady income, great credit, and have money saved as well from working since I was 13 years old.I relate to Ian Kay in his journey but also am very determined to make my goals/dreams a reality this year by July 2025.

What data source determines the property class?

@Kyle Carter, The strategy you're looking at would be what is called a "consolidation exchange". followed by a conversion to your primary residence. 

Investment Info:Single-family residence other investment.

I see other people have their primary residence as an LLC however. 

As European residents, we directly manage investments, leveraging the fiscal and legal advantages available in the EU.

Then you can determine whether or not to hang on to that one or seek something somewhere else.Even the decision to move into other asset classes like equities or whatever will need you to factor in the loss of investing capital in the form of capital gains tax (plus 5 years of depreciation recapture). 

I’m having trouble determining the correct monthly rental rate for my property.

I have landlord policies for my rental properties in TX and AL states, but I am not able to get an umbrella policy form my current insurance company, because I do not have car insurance and primary residence in US, as I am not a resident in US.

Investment Info:Single-family residence fix & flip investment. 12 Lincoln Street is a single-family home located in Sag Harbor, NY 11963.