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.

If you move to Memphis I have lots for you to do!

@Franklin PerezGetting your real estate license can be a smart move if you want MLS access, networking opportunities, and savings on commissions, but it comes with costs and disclosure requirements.

Selling and move on.  

Everything on my side was set to close, and then today the seller is refusing to close on Monday as they have not moved a few pieces of furniture they were supposed to get movers for.

There is also potential for an ADU in the large backyard, but I will buy another rental property before moving forward with an ADU plan.

Lenders will want a letter from your employer that states you are allowed to work remote from where you currently live and that this move will not affect your income. 

Akku, solid move getting into real estate early.

Quote from @Christi Wolverton: First time in 3 years of mid-term renting that I had a credit card denied two months after client moved in.  

I've only evicted a tenant through the court system three times in the last ten years, but I remove about a dozen tenants every year outside of the court system, all legally.Any tenant can move out in two weeks.