we can do it not rented but rate will be significantly higher. easier and more cost effective to rent it. unless the bridge money needs to be paid back asap or you need the funds back to buy more, then a cost analysis needs to be done. personally id get it rented at market rent or a touch below if time is a factor. 

That's an average of 17% annually over that time.The City of Detroit has not only outperformed every city in the Metro Detroit area, its outperformed every city in the USA from 2014-2024:Let that sink in for a minute ... you'll probably need more time than that to process this!

As for not feeling like it's the right time, I would urge you to focus more on the goals than your feelings. 

How critical was the lender’s turnaround time (e.g., 60 days vs. 90+ days) in your decision?

Now I feel it's a good time and I just don't want to wait anymore. 

There are two requirements to claim REP status1) 750 Hours2) You spend more time on real estate than other activities such as your W-2 Job or BusinessYou want to work with a tax professional who will be able to advise you on what hours count and what hours do not count.Furthermore, the CPA may have a nice worksheet that you can use to help you document your hours.Best of luck!

Hi RickeyAs a first-time homebuyer, you have great opportunities in the condo market.

@Chris Babb,I have moved in to the Build to Rent field full time. 

We have several different people lined up to clean ours depending on time of day and how much lead time we have.

This gives investors some time to complete a rollover and, in some rare cases, can be used as a source of short-term liquidity.Unfortunately, inherited IRAs are not treated as your own and do not fall under the 60-day rule.