To sell primary or turn into rental
We bought our primary in 2010 with cash for an awesome price. We recently moved and are debating whether to turn our old primary in to a rental or sell it (avoiding capital gains since we lived there 2 or the last 5 years).
We have 1 single family rental we bought with cash in 2013 and are looking to grow our portfolio of rentals. We bought both these homes before we learned the value of leveraging money in real estate. The idea is to sell our old primary and put the money towards 2 or 3 rentals. Or.. since we own it outright, does it make sense to just keep it as a rental and save up slowly for more? The issue with having 2 rentals that we bought for such low prices is the depreciation deduction doesn't offset the income. Any thoughts or suggestions are greatly appreciated!!