In law apt.
We are newbies and are considering adding an in law apt onto our home. (we live in Mass) Thought this might be a good idea to give us some additional cash flow to help save money and decrease out debt. Just curious if any of you know if we would be considered a 2 family home. Would we still be eligible for the tax breaks of owning a rental property? That's the other reason we'd want to do this. The reason it would be an in law apt vs an apt is because according to our lender the value of our home would increase if we have an in law apt and would decrease if we own a 2 family. We need our home value to increase in order to qualify for the loan. I know it's a lot of rambling but I think you can get the gist.