However, if it is a primary residence there was legislation passed that excludes forgiven debt from income.

A rent of $1225 excludes all who search at the $1200 level despite $1225 likely being in their capacity.

This also means that you can't try and create a loophole around this by saying you'll only allow two people in a two bedroom apartment, or something similar, since that effectively excludes families.As a landlord, however, you are allowed to set reasonable occupancy limits for your units.  

Also, I would not exclude detached garages especially with new Adu options.

If it's to exclude tax on the sale of the property, you need to have the property as your primary residence for 2 years.

If of course, your life and personal situation complies :) I have done this for three years now.For this thought exercise, let's assume the RE professional requirement has been met, and that the net rental income (excluding depreciation) equals $0.Isn't 100K of gross taxable income less 30K of depreciation equal to 70K of taxable income (i.e., 100K-30K=70K)? 

If that boosts occupancy substantially and reduces turnover(each turnover there costs about $3k-$4k in legal, cleaning, painting, lost rent, etc, and that’s excluding the 2 months that the deadbeat got in free rent- so it’s probably closer to $4k-$5k) then I’ll have made a very wise decision.

Lets say the interior walls are another 80 linear feet on each level than I'm at 400 linear feet total for walls(this doesn't exclude doors and windows so that should give me enough surplus for the job)  Since they are standard 8 foot walls that means I'm looking at 3200 square feet to cover the walls (400 x 8 =3200)Then the ceiling on both levels is another 900 square feet each (each being 30x30 in this simplified example) which means that's another 1800 square feet for the ceilingTotaling 5000 square feet for drywall and insulation.

You can also find deals in a variety of areas that work for pretty much any kind of real estate investing (though becoming harder to find flips and BRRRR has been tough pretty much all over the nation and pittsburgh is not excluded.)

Mike, unfortunately, the statute only applies to owner occupants, there's some other clause the inspector cited stating it excludes non-owner occupants.