Retirement leads to new gig as STR/LTR Investor

[Mark Rodriguez]

Greetings to all.  What a great resource Bigger Pockets seems to be that I've gone Pro.  Recently retired, and planning to rent out our current home as first gig, since we're moving to another state to be closer to kids/grandkids.  Thinking best to rent instead of sell; gain landlording experience with this home, and then invest in the new state after the move.  Situation:

Home was a new construction Oct 2023 when we closed on it. Have 100k in equity via the down payment we made on it. If we were to sell now, however, we would lose ~35k on the sale since the market has softened in N. Texas since. LTR would lead to a cash neutral position in the first year. Thinking it could appreciate some over the next 2-3 years where, if sold, we would come out even. Also think we'd add Umbrella policy instead of LLC for this single rental home situation, and use an LLC for our future investments at the new state.

Any thoughts, tips, lessons learned or recommendations on this plan?

Thank you in advance and looking forward to our journey and collaboration! - Mark