Your rents, mortgage interest, property taxes, insurance premiums, utilities, maintenance, repairs - all of that changes every year.

Clear house rules matterSpell out shared-space rules very clearly:– Quiet hours– Guests– Parking– Cleaning expectations– Utilities and internet– Damage responsibility in common areasAmbiguity in shared housing causes more issues than rent.5.

Does that include utility service to the house, a driveway, septic and well? 

But you could likely utilize it for secondary expenses like a special assessment or additional living expenses.

Deal killers for me are shared utilities with no clean way to split, big roof or foundation risk, rents already at the top of the comp set, and anything that needs heavy rehab while tenants are in place.

I have a private lender interested in me and encouraging me to make a big life change for a better future, but it's happening quickly, so I am trying to utilize all the resources I can. 

While we utilize trusted third-party contractors rather than an in-house crew, the process of managing those repairs requires a significant amount of administrative labor.

I leave the 15% in it and utilize it in that account.Lol its not as complicated as it sounds.

The IRS generally requires the property to be used as a business or investment property for depreciation purposes, so if it’s mixed-use, the depreciation and cost segregation would likely apply only to the part that is used for STR.Other points to consider:Partial-year rental: Depreciation, deductions, and cost segregation benefits are typically prorated based on the time the property is rented.Transitioning to full-time STR: Once the property is no longer your primary residence and is used entirely as a rental, you may have more opportunities for deductions, accelerated depreciation, and cost segregation benefits.Other advantages: STRs may allow for deductions on mortgage interest, property taxes, utilities, insurance, repairs, and improvements related to the rental period.

DC has very specific tenant protections, and missing language can cost you time and money later.That said, here are the non-negotiables I recommend focusing on:Lease structure essentialsClear utility responsibility (who pays what, how billed, and consequences for nonpayment)Occupancy limits and guest policy (especially important since you live on-site)Noise, shared space, and house rules spelled out clearlyMaintenance reporting procedures and timelinesRight of entry language that complies with DC notice requirementsNon-renewal and termination language (this is critical leverage in DC)No verbal modifications clause everything must be in writingBecause you live in the basement, make sure the lease clearly defines:What areas are private vs sharedParking, storage, laundry, and entry accessQuiet hours and expectations both waysScreening advice (this matters more than the lease)Most landlord problems come from screening mistakes, not lease wording.At minimum, screen for:Income stability, not just income levelRental history (this matters more than credit score)Eviction history specific to DCConsistency gaps in employment, unexplained moves, incomplete applications are red flagsPick one screening standard and apply it consistently to everyone.