That could change the situation, so check with your CPA about that.If you want more details about depreciation and cost segregation, check out the IRS guide on rental property deductions: IRS Rental Property Tax Guide.Hope this helps!

Still, you may not have to submit your tax returns. more info would be needed to know for sure, reach out to a seasoned loan officer for pre-approval and see if your situation would allow for this. 

Take people's advice and also dont take people's advice, make a decision that best fits your situation. 

Sorry to hear you're going through that situation.

I have an interesting situation with a now former tenant that has come up.  

The main thing being: giving up a property that appears to have appreciated pretty well is just a touch pill to swallow and I've regretted a few moves I've made when put in a similar situation to yours, and I had less equity in mine.It sounds like you're moving to Raleigh in the near future and want to buy a multifamily to househack.

Would love to hear thoughts from others who have been in a similar situation!

After stopping by to see and knocking on the door, no answer to get in contact of the owner, I looked up to find the home is now 4  years delinquent on taxes.The house is needing much work unfortunately and with taxes being delinquent, the owner may not have the funds to rectify any of the situation. 

I'll wait and assess the situation in a few months (if it's still available).

It's recommended to discuss with an attorney knowledgeable in your state laws to determine the benefit and best structure for your situation.