When we moved, we turned it into a rental, hoping this would be the start of our real estate journey—something we’d like to continue once my husband retires.Some key details:My husband is active duty and will retire in 3 years.We have one final move coming up this summer to Raleigh, NC.Our current debts are crippling us—the high interest makes it tough to stay afloat every month.The plan I proposed to my husband:Sell the rental property.Use the proceeds to pay off all our debts, set aside emergency funds and a down payment for our next home.Free up $1,500/month from debt payments, and that also can stash in a high-yield savings account.Regain full VA loan entitlement, allowing us to purchase a multifamily home and use the house hacking strategy for up coming move.Avoid capital gains tax, since April marks five years of ownership, and the tenant’s lease ends in May.This wasn’t our original plan, and we hate the idea of using our equity to pay off debt.

I'll start there! 

Your starting depreciable basis should have been the LOWER of what you paid or the FMV in 2010 when you converted it to a condo. 

Start small and Make Your Big Mistaes Early.

Start small, evaluate results, and adjust gradually.

Their a/c starting leaking and has missing ductwork, and is blowing air in random places.

I just started to learn about buying rental properties in Japan also.

Thank youBest,SathishkumarI would potentially try starting out being a cohost in that local area or work for a cohost company .

I'm currently looking for a CPA and tax expert to help me get started with my first rental property.

Like Samuel says, Move into the fixer and start making money with the good unit, now.