I would definitely recommend taking pictures. 

I would definitely take out the equity of your home through other means and keep the solid rental. 

If you're looking to build a solid, long-term portfolio, Memphis is definitely worth considering!

But for someone thinking about scaling and possibly repeating the strategy in multiple markets.. say, Austin or San Antonio-going the investment property route might provide more long-term flexibility.Have you noticed lenders trending toward stricter definitions of “second homes” versus investment properties?

Hello,I am wondering if anyone knows the answer to this, I am a Canadian citizen with many single family houses that I own in my Florida LLP, I am currently using the structure of paying taxes from the the profits from the LLP flow thru into my personal name, paying taxes in Florida and then having to pay the difference in taxes in Canada ( minus the amount I paid in Florida as a foreign tax credit).  

It's a 4 bedroom 4 bathroom house in a Auburn AL which is definitely a college town (though I do not refer to it as a student rental).

I will definitely look into that.

The house is definitely on discount because of it, almost worth it to go through the trouble if the number makes sense. 

(Much easier said than done, this is just an example.)I definitely agree that appreciation is hard to predict. 

Besides we're hospitality people, not selling property or leasing it long term, and somewhere along the line a few states got their definitions very very mixed up!