My parents recently sold their house and have decided to move into my former home that I moved out of in the last year since they can't really afford rents in the area and do not want to try to purchase another home. I plan to rent the property to them at cost (so, below local market rental values), and they will pay all utilities and HOA costs, and will address repairs themselves. What taxes will I be paying on this income (is it considered official "rental" income?)? Am I eligible for any deductions on the property? My parents do not want me to subsidize their living expenses, so we are trying to take into account the income tax costs to me of them paying the at-cost rent.