So I bought a house right before the market became turbulent at an interest rate of 2.9% for $175k. It’s current estimated value is $195k-$223k but this doesn’t account for the improvements I have done like +2 bedrooms, +1 full bath, and +144sqr ft.
My current thinking is register my company as an LLC and turn it into a rental for passive income. The only drawback I see is having to deal with tenants indefinitely for the life of the rental and I don’t own another home yet. Ideally I could reclassify it as an investment property and then use it to get another mortgage then sell it and avoid capital gains. But then I loose a low interest mortgage and the passive income from it.
Side question, do property management services do full stack of the process or just physical inquires like a handyman? I am thinking of a service where you essentially loan your home to them in exchange for 50% of profits but you handle nothing.