Property Type ConsiderationsSingle-Family Home vs.

This active income can help me fund my retirement as well as help me get reimbursement for home office and health care premium while lower my tax liability.

I'll add on to what the other Ben said and mention that there are exceptions based on the # of days that you rent out your home to where the income/expenses are excludable (being lesser of 14 days or 10% of total usage if under 140 personal use days).

Another thing I wish I had done differently in my own home.

I’m interested in purchasing an investment property with equity I’ve developed in my current home, however I’m concerned that if I have an issue renting out the new home it can blow up in my face.

The insurance ended up non-renewing our policy because of the "claim," and most other insurers wouldn't cover our home because of the claim. 

You rate at 3.62% is pretty good but its on an FHA so you also have to consider the mortgage insurance if this is going to be your forever home.

I'd strongly recommend against a single family home and only target properties with at least 2 units otherwise it'll be difficult to cashflow in this high interest rate environment unless you plan on using a large amount of liquidity in the purchase.

It's completely off-the-grid home, very funky in a nice way... everyone that's been there loves it and I think it would appeal to outdoorsy/environmentalist/nature lover kinda folks.

Lake side homes are more desirable for short term rentals in this area but not impossible to accomplish.