I'm also looking in Marble Falls but haven't seen much available.

Look at a landlord attorney in your area, they know the statues that affect your state and federal rules.

You can also read the statues on-line if so inclined.Generally speaking, you can not change a rental agreement during the term of the agreement.

Finally, the owner was telling me that she believes the statue of limitations has expired on the bank going after her and making her repay the loan.

I also have never found anything in the statues.

According to Florida Statues, one cannot market a property unless he/ she has the intent to purchase.

@Jacob Marble Seems like the property is running well with high occupancy rates.

The combination of not being able to put 20% down and being a landlord is clouding my judgement***Option B: Sell current, live in new primary- Use the equity for 20% down payment (no more PMI) and for renovations - Cash reserves remain untouched for a different investment property next year, and more would be added to this fund but then as well- Very unlikely I would be able to get the same kind of cashflow from property next year, but I could do more "tenant friendly" updates, instead of the marble bathroom countertops I have currently. *** This seems to be my gut answer, but I might be saying that out of fear***This is the current home.

We recently did a flip where we used marble looking countertops and even the appriaser said for the area, that was a great choice . . . $200 verus $4,000. 

Option 1 means purchasing in my higher cost market where an entry level house is around 400k (tying up a lot of my marbles at once).