That means you report rental income, but you also get to deduct all the related expenses (maintenance, repairs, depreciation, etc.).You’ll pay higher property taxes without the homestead, and financing is typically a bit tougher (higher down payment, slightly higher rates).You’re on the hook for landlord responsibilities and compliance, even if it’s just your kid’s roommates.Which makes more sense?

Hey Spencer, Some traditional lenders do restrict refinances when a relative occupies the property, but investor-focused and DSCR lenders usually don’t mind, as long as the numbers make sense the property is under your title and it’s clearly an income-producing asset.We’ve helped several investors refinance rentals I sent you a Dm, Happy to help! 

Location wise I would like to start relatively local, to make it easier on myself from a management standpoint, and branch out to other locations from there.

Prevents open-ended rent increases while maintaining accountability for pet-related upkeep. 17.3(a) Landlord may 'enter and remove Resident… by force or otherwise.'

There are certain benefits but don't believe your objectives are the correct reasoning for an irrevocable trust.

The BRRRR strategy is a TEAM sport and your team should be comprised of people who understand your objectives, have a comprehensive knowledge of the area and its tenant pool and have experience working with the target population. 

Whether you're aiming to invest in properties, secure passive income, or simply expand your knowledge, understanding your objectives can significantly guide your journey.

Nobody has an objective answer to this question.

Property Condition & Amenities: it’s important to, “Maintain to the Neighborhood.”Key metrics for each Property Class:Class A Properties:Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years.Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

Assuming the collateral is solid and you are solid in terms of creditworthiness, your objective is to make it as easy as possible for lenders underwriting department to recognize you are a low risk application.