In 2015, my grandmother became gravely ill. She was living with my parents, very close to the house my husband and I had purchased in 2005. Grandma needed full-time care, and since I had just made the transition to a stay-at-home mom, I was more than happy to venture to my parent’s house to help take care of her during the day. But a year later, my mom was required to move two hours north for her work. Since Grandma couldn’t make the move with my parents to their new place, my husband and I decided to take over their mortgage, move into their old house, take care of Grandma full-time, and rent out the home we had purchased just 10 years prior.
Just like that, my husband and I became landlords. We knew that there would be some upfront costs, but we were surprised by just how many there were.