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Reply to "Expenses when renting out a house [DC]"
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[quote=Anonymous]Insurance will go up. Your house is probably not compliant as a rental in its current condition. Some safety issues will need to be addressed - be prepared to spend $1.5-$3K to make any necessary changes. Loss of homestead deduction and taxes on the rental income will need to be paid. My guess is that you will not be cash flow positive in your first year, if you bought in the previous 5 years. Have a few months of reserves in your savings account.[/quote]
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