You could also get a line of credit for about $150k (you should be able to borrow 75% of the value.)The reason I suggest this is…1) you save $40-$60k in selling costs. 2) you have a lower blended interest rate (2/3rds at 3.25% and 1/3rd at 7 or 8% instead of the whole $500k at 7 or 8%) saving you another $1k/mo in interest. 3) you only pay interest on that $150k when you actually use it, not from day 1  Unless you hate this property, or want to buy something you can’t afford without selling, that would be my plan.

If a landlord plans to hold the property for a while, we always recommend an annual lease, ending to align with the summer leading lesson, or staggered with their other leases depending on the situation.  

Talk to a CPA to see how it fits your plan. 

One of them has a clear path to return a profit and is executing that plan well. 

This property offers spacious townhouse like setting floor plans offering one, two and three-bedrooms.

She informed me that she & her sisters plan to take care of the rent so he still has the home when he gets out of the hospital. 

Not even Balance Sheet.I don't know if they changed their model since the change of subscription plan but it isn't ideal to use it as depreciation or amortization.They do have a balance sheet. 

I'm planning to turn it into a rental and was wondering if I should consider hiring a property manager for my first rental.

The plan is to transition into a new home in 2025 or 2026 while converting this property into a long-term rental.

Charges for marketing pics, 3-D Tours, Floor plans?