Quote:
Originally Posted by OrangeBlossomBaby
It looks to me like some posters are responding to an unasked question. "I want to profit from renting my property out for the first year after buying it. Please advise."
That isn't what the OP was asking, at all, even a little bit. The actual question is: "We don't take occupancy until next year, so we want to rent it out for the first year. Please advise."
They want expenses covered by someone else for the first year, while they're not living in it. They didn't even mention the word "profit" in their OP. They don't need to worry about profiting, this isn't an investment property. It will be their retirement home - next year. Between now and then, they'd like to see it occupied, and recoup some of the expense of buying the thing.
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I agree, but my initial advice was to not rent out the property at all. If they had not already purchased the house, I would have recommended that they wait until they are ready to retire to buy.