Down the road I’d shoot to house hack just outside of Boston, but my option is strictly flips for right now (possibly BRRRR depending on Mortgage options)

We went in expecting ZERO appreciation - strictly buy and hold and expecting to make our money with cash-flow from rental income.

This is strictly an emotional argument.

The time lines are Strictly enforced. 

Nothing furtherIt's very important for new Investors to note that in order to perform 3rd party property management services in Ohio one must be a licensed Real Estate Broker who is required to adhere to very strict accounting regulations & auditing through the Ohio Division of Real Estate.

I am taking it upon myself to set a more strict personal budget as well as creating a business plan.

@Matthew Paul - spoke to the Wife and she is not comfortable with keeping our house as a rental. she strictly thinks the new tenants will beat it up and leave it in a state where we'd have to sink money into it to fix it up before selling. also, if we hold it for a number of years, she is fearful that it will be "out of date" and we'll need to sink money into it to remodel it as well.i am more of a risk taker than her and do not agree but we have to come to a consensus.we also would likely need the profit of the current home to move into the next home - for a down payment.creative options/ideas?

Also I recommend to find a knowledgeable accountant who is very familiar with real estate, as not all accountants are.As a general rule of thumb, you account for all income and expenses associated with the rental property together during the year, and in the end of the year when the time comes to file your taxes you need to calculate the ratio between personal and business use according to the tax guidance.First, you need to strictly divide direct and indirect expenses associated with your rental property.

I think there may be Fairfax county rules against this, but I am wondering if anyone has an idea of how loosely/strictly those rules are enforced.

I think there may be Fairfax county rules against this, but I am wondering if anyone has an idea of how loosely/strictly those rules are enforced.