@John Paul, it's time to graduate from "old school" and start living in the 21st century for your own benefit.

The other thing is that if the house is really appreciating rapidly, if you lived there 2 years and sell within 5 you get to keep 250k of the capital gains, which probably makes better sense than keeping long term as a rental. 

I lived in Upper Saddle river back in 88 with my parents and remember all the beautiful homes.

Is our primary residence and is a long term live in flip. $490k mortgage.

I don't live in Richmond, but I'm very familiar and visit quite often.

I live in Utah and well.

The market seems to have a lot going for it with the beach, the lively downtown, the historical appeal and the night of lights draw during the winter months.

What is common and what people expect and by people I mean the people who would live in that finished unit not the peanut gallery.

Shoot me a DM and I'm happy to chat.Chris Also, Portland (in the city) has restricted STR licenses to owner-occupied properties, so that won't work if you're living in Salem.Wow good to know, thanks Chris! 

Do you live in South Bend?