Relative Homestead vs rental property
I'm purchasing a 3 bedroom townhome in a college town for my 19 yo to live in during college. Does it make more sense to do a relative Homestead and let a couple friends live with them and help out with expenses or have an official rental property? I can benefit from homestead tax status and mortgage interest deduction with relative homestead. Is there more financial benefit having an official rental property? This would be my first rental. Any thoughts are appreciated!