So, If I purchase a single family house (that I really like) and I rent it out for a few months (or years) then I move into it. How is that treated tax wise (IRS) and investment wise (It may be in an LLC). I obviously have business expenses when using it for a rental, but those expenses become homeowner expenses as soon as I move in. What other ramifications am I neglecting to think about. I'm not sure when I will relocate and take over the rental. Thanks in advanced.