Primary residence turned into rental

[Preston Dean]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $175,000
Cash invested: $12,000

Purchased a single family property in Fort Worth as a primary residence via house hack. Purchase was with a 3% conventional loan of $170K with current ARV at $235K. Lived in it for 2 years and is currently rented.

How did you finance this deal?

Conventional 3% down payment

[Preston Dean]

Quote from @Tony Acree:

Quote from @Preston Dean:

Thanks man! We were pretty pumped after it was all said and done. Currently have a 3.2% and will likely hold forever and pull out equity here and there 

That's a solid rate! Probably won't see that again for a while.

The dilemma we are now facing is whether to sell it within 5 years and not pay capital gains tax, since we lived in the property for 2+ years. We have a few years before having to make that decision, and will see what the market does until then. But we have a 2.99% so....

Do you think you'll hold yours? Or Sell?

Hold it for the foreseeable future. currently profiting a couple hundred from rental income. This will be my first tax season with the rental so im interested to see the tax breaks we get from it. 

I plan on doing like Brandon Turner from the BP podcast and keeping it and having it paid off by 18 years and letting our daughter use the equity for college as i'm sure its going to be even more expensive in 18 years.