Due to an illness, I'm on SS disability. We would like to move in order to get me closer to some important places and to improve my wife's commute, and have found a nice little condo that's about perfect. The housing market is bad in the area our house is in, so we are considering renting it out with the help of a property management company.
How is rental income calculated? I understand I can make as much as $800 per month without harming my benefits. I'm assuming the mortgage we pay is not deducted from the rental income. But what about the mortgage interest and property insurance?
Any advice would be great - thanks.