When we moved, we turned it into a rental, hoping this would be the start of our real estate journey—something we’d like to continue once my husband retires.Some key details:My husband is active duty and will retire in 3 years.We have one final move coming up this summer to Raleigh, NC.Our current debts are crippling us—the high interest makes it tough to stay afloat every month.The plan I proposed to my husband:Sell the rental property.Use the proceeds to pay off all our debts, set aside emergency funds and a down payment for our next home.Free up $1,500/month from debt payments, and that also can stash in a high-yield savings account.Regain full VA loan entitlement, allowing us to purchase a multifamily home and use the house hacking strategy for up coming move.Avoid capital gains tax, since April marks five years of ownership, and the tenant’s lease ends in May.This wasn’t our original plan, and we hate the idea of using our equity to pay off debt.

If this roof leak started suddenly during a storm and damaged the ceiling spontaneously you may not have much to go on.

) the education process has started with me regarding the commercial side of things !  

Hi everyone,I’m new to the U.S. and excited to start my real estate journey!

@Darrius LloydTo start your house hacking journey, research neighborhoods with potential for multifamily properties and balance affordability with tenant quality.

If the unit is empty, change the locks, clean it, and get it rented.

I started my LLC in the summer and still working through some kinks getting website started for marketing.

As a starting point: -If they work full time and make $700k a year -Don't want to or can't spend time self managing a short-term rental -Don't have a spouse who wants to take the lead on managing the rentals They are likely not going to directly reduce their taxable income with real estate year-to-year. 

I have a different answer to this; I started my real estate business in 2004, residential of course.

Here once you start passing $1500 in rent your pool is getting pretty shallow.