If you're shifting into rentals, you’ve got a few solid options depending on your strategy.

Asking the county to bless a wholesale shift (say, residential to commercial) is a completely different animal in cost, timeline, and risk.

You should shift your perspective a bit...you need a place to live and you are/will be paying to live somewhere.

And of course the crash hit.It hadn't sold and the next year it was listed at $800,000 because that is where the market had shifted to.

These kinds of deals are 𝑒𝑣𝑒𝑟𝑦𝑤ℎ𝑒𝑟𝑒 right now as the once hot sellers market shifts into a cool buyers market.

For some context: we own and operate a portfolio of single-family homes in the Milwaukee suburbs for about 15 years (with some in-house help) and have learned a few things along the way.The biggest shift in my career of managing tenants happened when we started treating tenants more like employees then customers. 

Higher DemandThe rental market is shifting.

It also has more risk — bad contractors, market shifts, appraisal surprises — which can mess with your timeline or returns.If you want smoother cash flow and less headache, just doing fix-and-rent with clean, turnkey properties (or light rehab) might be the better route.

This type of entity layering can help shift the income in a way that changes its tax treatment.That said, implementing this kind of strategy requires careful planning and precise execution to stay compliant with IRS rules.

The other truck was a stick shift .