Since tenants were living there under a valid lease, it may be possible to treat that period as rental use.Depreciation and cost segregation: A cost segregation study could apply to the property for the rental portion, allowing accelerated depreciation on eligible components.

If you’re renting by the room, prioritize good-sized bedrooms and enough bathrooms over oversized living rooms.3.

Love that you’ve already got some real-world experience under your belt — living in that 4-unit and then tackling a foreclosure reno definitely taught you a ton that most folks don’t learn until later.

I live in Independence so familiar with the area

James and AuroraHi @Aurora Zemjanis The first thing I'd recommend is to focus on a city/market where you either 1) currently or have previously lived, 2) have family/friends that live there, or 3) travel to for work or vacation frequently.

Half could be converted to more living space, and still have a 3 car garage, plus views. 

I don't want to live a life of mediocrity.

Tenants especially just want one place where rent, leases, and maintenance live.

Hi Ricardo, I live and invest in New Hampshire, currently only have done long term though.

i don't have any student rentals but i do live in Lawrence and invest here.