I’m moving out of the house soon and will be living rent-free with my wife at my parents' place in the Bay Area due to some recent life changes.Here’s a breakdown of my situation:Location: Sacramento, CA (4 bed, 2 bath, recently renovated)Current mortgage payment: $3,940/month (including escrow)Mortgage balance: $475,000Current home value: $515,000 - $535,000 (based on comps)Rental estimate: Property management companies are quoting $2,600/month (with fridge/washer/dryer included), but some websites suggest it could go for up to $3,000/month.Planned budget:$540/month for capital expenditures and maintenance$100/month for lawn careTenant to cover utilities (gas, electricity, water)7.5% vacancy rateWe bought the house thinking it would be our forever home, but with our current situation, I’m trying to figure out the best long-term plan.

@Darnell Robinson for the low prices in Detroit, most investors either pay cash or have a private lender they use.You can also look into rehab lenders like CIVIC, LYNK, Lima One Capital, etc.

I'm wanting to wash my hands of the property and get out with the most capital intact.

Just in general, that doesn't make much sense.Do you have the the capital and approval to buy a new home without tapping your equity?

I probably can get co-signer for loan too.I’m eager to invest this capital wisely in a rental property.

I’m also interested in learning about raising capital to fund my investments.I am truly excited to learn and connect with you all!

You’re right that you can’t assume 100% occupancy, and you’ll also need to include costs for maintenance and capital expenses.

If we resided in a property for 20 months in the last 5 years, does the IRS consider a "partial" capital gains tax exemption?

However, we are unsure whether we need to pay taxes on the capital gains from the sale.

Anybody have experience as an LP with Penn Capital?