Thanks for the reply! So, even when she pays the 500$ for those 3 months, the rate for all 3 tennants is still below fair market value (by $150-$200). This was our arrangement with them, to make it fair and keep it simple for our taxes, etc. So thinking we are ok? Granted this just started this year, and she moved in July 1, and we just purchased June 15th, so really we won't have to reconcile the summer month increase until we file for 2021. Thinking we have this set up correctly as a second home vs. an investment property. We are definitely not making any money, in fact spending some and chalking that up to her college expense/trade-off.
