I was actually looking at a fully financed deal in St-Catherines a couple of months ago.

I have a couple of Bay Area clients and used to live in the Bay Area myself.

Hi Thomas, My daughter and I manage long term rentals in the Phoenix market and I can say that in the past couple of years we are seeing a trend of people doing exactly what you are considering.

They put all of Indianapolis under a microscope for a couple of years.

So you are negative $600 a month on the first one, you will need to have the personal income to cover it and then still buy the next one.A couple of thoughts:1.

PAL rules have a curve that drops to zero at $150k of combined income for couples.

Convert the Property to a Primary Residence: If you live in the property for at least two of the five years before selling, you may qualify for the primary residence exclusion, which allows you to exclude up to $250,000 of capital gains ($500,000 for married couples) from taxation.4.

You will have longer DOM, as a couple of folks mentioned, owing to minimal marketing, so if you have demanding/ time consuming clients who want to discuss why their property is not selling, you'll want to budget in payroll time.

There are a lot of groups out there right now that had made-for-TV track records that will likely not be in business in a couple years.Focus on the experience of the team, how long they have been in the business, how many market cycles they’ve survived, their philosophy on leverage, and how many properties they bought in 2022/2023 (a good answer would be few, a great answer would be none).And do yourself a favor and read The Hands-Off Investor (in the BP bookstore) before you invest a single dollar in a syndication.

If you have lived in the property for two out of the previous five years you could qualify for the 121 exclusion, where you get the first $250k ($500k if married) of the gain tax free.