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.

Market goes up and down and your tax implication comes into pay when cashing out. 

So for her, the fees of 3% at closing and 1.5% per year is a steal vs paying $400,000.

.✔️ You’d rather pay for peace of mind and legal compliance.Final ThoughtsIf you’re house hacking a small multi-unit (like a 2- or 3-flat) and are comfortable being hands-on, self-managing can be a great way to save money and learn the business.

Google for a Service Agent who does Evictions and pay to get them out.

The key is that in order to completely defer all tax you must purchase at least as much as your net sale. 

Be sure to: call & verify employment references, request pay stubs to confirm income & check rental history by contacting the previous landlords.Keep the momentum going!

Did the proceeds from the sale count as short term or long term capital gains?

We pay Lightning Docs a $500 annual fee and $500 per loan, which we charge to our borrowers at closing.

Thanks, it all sounds good as long as I can avoid paying hefty taxes and generate cash flow.