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Investors & landlords
I'm curious, if you're going to be out of country for 3 years, why are you keeping any of the property for personal use, instead of classifying the entire property as residential rental real estate? I ask, because while you're gone, I'm not seeing any reason or purpose for claiming any portion of the property as personal use. You definitely won't be using it as your primary residence, and I don't see how you will be occupying it for any period of personal use while you're out of country.
Take note also, that remote management of rental property can easily turn into a nightmare, and quite frequently does. Even if you're paying a management agency to manage the property for you.
‎February 8, 2024
6:44 PM