All Forum Posts by: Lauren N.

 I'm not currently living outside of the US but I'm thinking about it.  Good point on the 2% difference....  I thought there were more benefits to being a 1st time home buyer here in the US with a house hack but I haven't looked at my notes on the subject recently.  Thanks!

Will I still qualify for the benefits of a first time home owner/ house hack in the US if I buy outside of the US first?

Or should I hold on buying outside of the US until I have my first house hack here in the US?

Am I allowed to convert a garage to an ADU or add bedrooms to the house while doing a house hack and having tenants?

I know it's a year requirement to live in the house hack.

How much time can I spend traveling abroad while doing the house hack?

I am self employed and will work in different parts of the country for weeks or a month at a time.  Is this acceptable with a house hack?

Is there a certain amount of time I'm given to find tenants for a house hack?  Am I penalized if I don't find tenants quickly?

thank you!

Is the PMI a deduction on the tax return? How is it treated in the accounting?

Is there a point when the PMI goes away? If so when does that happen?

Hi Everyone!

I'm just learning about house hacking.  How do the finances work?  If I collect 40k in rents from the house hack in a year do I have to pay taxes on the rents first and then put it towards the mortgage?  Or is the 40k an expense and tax exempt?