@Dillyn Davidson Saurdiff there are special rules. Owner occupied can generally be more selective on who they rent to, without violating fair housing. There are also differences on how you claim partial use of the structure on your taxes.
It's mostly the same except the Fair Housing laws will not apply to you. You will get to choose whoever you want to live with you or next to you.
@Brian Bradley hey brian, you gave me some great advice for financing. Was wondering if you had any insight into this topic. I posted about a week ago. I was going to just message you but your advice was great last time, figured I’d share this one if you had any thoughts.
@Dillyn Davidson Saurdiff yes, their are special laws. You are a landlord so have to comply with land lord tenant laws even if renting a bedroom and house hacking. Talk to your CPA and attorney to set up yourself for taxes before you rent, and with an attorney to get your rental agreements etc all in place. @brandon
@Brandon Turner undefined wrote a great article about this and had some very good podcasts to get you going. https://www.biggerpockets.com/renewsblog/2013/11/0...
Here is a good handbook to go over also. https://multco.us/file/9038/download
You are going to be answerable to the Fair Housing Authority to most extent, but will have some freedom, but you are a landlord, take money, not just a roommate. So Laws will still apply etc. So just do things by the book. But don't let it bother you. Just be a good landlord. Don't discriminate, have the house safe and clean. Outsource the things you don't want to deal with to PM. Have rent paid to your property manager and have them pay you. Heck, don't even tell your tenants you are the owner. Just be a renter also so you don't deal with their problems personally. But you have to have a safe and habitable place, and get insurance to cover renters. This is a very big vague topic to cover so if you have specific questions IM me.
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