Here’s how I’d think about it:Relative Homestead route:You get the tax perks: homestead status usually means lower property taxes, plus you can still deduct mortgage interest.It’s simpler paperwork-wise — no leases, no rental registration, no landlord compliance hoops.Friends kicking in “help with expenses” is more like cost-sharing than formal rental income.Official Rental route:You’d be treating it as a true investment property.

I've been finding things like this essential for accurate deal evaluation.

Make sure paperwork addresses all the D's.

If you’re planning to work as a General Contractor in New York City, understanding the NYC Department of Buildings (DOB) Tracking Number process is essential.

And I had to put down the 20% first, and then executed the 15% seller financing after the close, essentially reimbursing me.

From my understanding, when you bring in your down payment (10–20% of purchase and sometimes rehab), it essentially sits in the deal as your equity.

Saved myself a few hundred bucks.Numbers tell the truth when people don’t.your lease is your silent business partnerA lease isn’t paperwork.

Many are performing the subcontracted labor because they lack the means to provide those essential requirements, particularly with roofing.3.

The So much paperwork for me and the investors and you need to notify the SEC that you have this fund that offers the fixed rate of return of X. 

With single-family homes, the issues are different, you carry the full burden of maintenance, so the physical condition of the house, along with any municipal violations, becomes a much bigger factor.In the end, for me it always comes down to three essential considerations before bidding: understanding the market conditions surrounding the property, knowing which liens or debts you would inherit, and being clear about the physical condition of the property and the repair costs you might be facing.