Its not as simple as using eviction law even after you closed and now are the owner. 

Miami is still doing well, Fort Myers is adjusting and has lower real estate than 12 months ago, etc..)My simple thought, for what it is worth, is choose a place to live and not invest in:  choose the location you and your family WANT to live in ( because of the schools, taxes, weather, other family there, etc...) and then buy and do real estate there (and get whatever licenses you need once you start third party management).I wish you well!

@Grace Norton adding to what's been written already, you'll want to get a 2-year work history for both.To consistently pay rent, requires consistent income, which requires consistent employment.Pretty simple concept!

Here is a CSS Decision Diagram flowchart intended to bring together all the various questions when assessing the benefits of a Cost Segregation Study (via a professional or DIY).FYI - You can do a CSS for ~$400, ask @Malik Javed how.

And in some counties , it can take 4 or 5 years for a simple single-family home as is the case on these waterfronts in Annapolis.

The proper answer is "it depends" I don't know anything about your case.I do prefer simple over unnecessary complexity.

@Jeff Goedeker A rental P&L statement would be pretty simple to create.  

If it’s going to be more than the one day loan we actually structure it the same as a regular hard money loan.if it’s a true double close, process is super simple.

Since I work pretty hard at my day job and don’t have much renovation experience, I wanted something simple—a rental I could put a tenant in and at least break even.

I suppose my question on this is: Is her simple statement (which came in a text, btw) to me of "I'm moving out," enough for me to take this kind of action?