Buying a home for primary residence, then use for rental at later date

[Tiffany Robinson]

I have found what I think to be a great opportunity to start with buying a home to use as rental property. The home is $30,500 with no work needed, 2 bedroom 1 bath, attic, and finished basement along with parking available in the rear of the home. The seller only want $2000.00 down, He is putting $2,000.00 toward closing cost, $1000.00 moving expenses and the mortgage is $300.00 a month. My questions is what happens if I would want to live there for about a year and then use the home for as a rental property.