All Forum Posts by: Charles Elliott

Hi all! I’m looking for recommendations for a good CPA related to short term rentals. I live in Arkansas but am investing in Tennessee. Thanks! 

@Jason Bohling thanks so much for the breakdown! That explains it perfectly. I’ll be sure to take all that into consideration when it comes time for me to move. 

@Doug Spence I'm looking to purchase again once I move and use the VA loan again. If I sold, my plan was to reinvest the profit into an investment property (small multi family). My current residence would be profitable with either short or long term renting. That's what's making the decision more difficult. Doesn't seem to be a "wrong" decision

@Jason Bohling I'll check with my lender about the cash out refinance details you mentioned above. I'm still a little unsure if I understand correctly with reusing the VA loan and getting back the full entitlement. Also, good point with using the shirt for my own security. I think I'll keep my property and rent to a military member. Thanks so much for y'all's help! @Caleb Brown

@Jason Bohling I’m currently in the Colorado Springs market. Huge jumps on home values and growing city. My goal is to accumulate multiple single family and small multi family for long term and short term rentals. 
i used a VA loan for my SFH and have accumulated over the 20% equity! Just like Idaho, the market here is crazy. thanks for the info on switching to a conventional! I didn't know all those details.

I'm currently active duty military and am having to move next summer. I purchased my house last summer and have built around $80k in equity. My only hesitation on keeping the property is that I'd be having to manage the property from across the country.

Recommendation to sell and reinvest or cash out refinance and rent or Air BnB?