The house is super renovated with polished hard wood floors, brand new paint job,  updated appliances and kitchen, and both bathrooms are updated and super modern.

Hello @Jesse Fifield,@Rory Gill Hit the nail on the head with his advice!

Eamonn nailed it- Unless you are buying that property with capital gains there are 0 tax benefits

Again, perfectly nailed it @Chris Hopper. 

Service based retail that is hard to replicate online, such as convenience stores, restaurants, QSR, grocery, wireless stores, dry cleaners, medical offices, hair and nail salons, etc can generate strong risk-adjusted yield compared to apartments.

@Dave Foster nailed it on the 1031 exchange. 

Currently we're working on reaching a savings goal before we make a move, but we're trying to nail down a strategy to pursue.

Currently we're working on reaching a savings goal before we make a move, but we're trying to nail down a strategy to pursue.

@Kris H.I like the HGTV comparison, you hit the nail on the head.

@Natalie Kolodij hit the nail right on the head.My advice would be to double and triple check your numbers to make sure renting the house doesn't make sense.