First HouseHack Questions (Lease Agreement, CPA recommendations)

[Kevin Rodriguez]

Hi BP Family!

I have purchased my first investment property (Single Family 3bdr 2.5baths) and I will be HouseHacking it by renting out the remaining 2 bedrooms. 

I have read a lot of posts regarding the benefits and drawbacks for HouseHacking and I have decided to take this as my first investment strategy. With that being said, I would like to ask for some recommendations for the following areas. Any other tips/advice from any former or current HouseHacker are obviously welcomed! Thanks in advance! (:  

- Favorite Rental Lease Agreement Templates

       - Additional Rental Agreement Terms

- CPA with HouseHacking experience. 

- Service/Software Application that can facilitate application, background check, credit check, collecting rent. 

- Any other favorite apps, websites or services?

Any other tips or advice is greatly appreciated! As I am a bit nervous, I am also really excited and prepared to start my investing venture! 

Thank you all!

[Grant Shipman]

Congratulations @Kevin Rodriguez!  It really takes a lot of bravery  and planning.  I previously lived in ATX for 8 years in Bouldin Creek hood.  Here's my best on your questions: 1) Make sure any lease agreement you use, you edit to fit your exact needs/want.  This is your agreement/controlling-document w/your future renters, so make it good.  If you email me, I'm happy to send you mine in an editable form. 2) My CPA has plenty of this experience- I'm happy to connect you w/her as long as you are fine w/a $800+ CPA, as I don't want to waste her time w/someone who wants a $400 CPA. 3) I keep an eye on PM software as best I can. IMO the best for <10 units is Apartment.com and the best for 10+ units is RentecDirect- these do all the actions you asked about. I'm very glad you are planning on using PM software- such a monster help to you, tenants, books/CPA, etc. A lesson in my BHH video course teaches on PM software, bookkepping, etc. I would post it here but it is private, so I can include that in the email back to you if you'd like. Do you plan to keep it as a coliving property after the 12 months required by the loan?  I'd encourage you to consider it.  I used that strategy to go from delivery pizzas to a $2M+ portfolio in <2yrs when I got started. Keep turning that nervousness into thoroughness & action and keep that bravery- you will help your future self, family, and tenants!