If you decide to allow it, I would add an addendum to the lease stating the rules and possibly getting a pet deposit.

Any perceived weakness in the rules is quickly exploited by people who are only here for self promotion.  

The net profit or loss then flows through to your joint taxes via a Schedule K-1.Since you said your partner qualifies as a real estate professional and assuming they meet the participation rules, some of those losses may even offset your W-2 income, which can be a game-changer.

It’s true that the government guarantees a portion of the rent, but tenants almost always pay part of it themselves—how much depends on their income and local housing authority rules.

My qualification standards say that applicants should have a social security. thats what I shared with other applicant ( the other cousin). am i violating fair housing rules if I tell him.

A 50‑year mortgage boosts paper cash flow by stretching payments, but you trade it for far more total interest, slower equity build, and likely tighter prepay rules; that only makes sense if you’re buying a true cash‑flowing asset and need the lower payment to clear DSCR or reserves.

A detailed lease that outlines rules, fees, and maintenance responsibilities keeps everyone on the same page.Ignoring preventative maintenanceLittle issues become big ones fast.

Which ever city you go with I'd recommend looking into a local landlord association as they tend to have insider knowledge of all the rules and regulations.

The 2025 bonus rules everybody’s talking about apply to property placed in service now, not retro to your 2020 purchase.

ADRs are also compressing it seems from the data.Which cities are best to deal with when it comes to STR rules and regulations?