I believe depreciation on that unit that you were living in starts at that point as well.just bringing this up because it was mentioned in another post where someone was house hacking.

For context, I'm based in the SF Bay Area in CA and looking into buying my first OOS rental after house hacking locally for 10 years.

@Tara Josberger Are you open to house hacking?

Then you can house hack the rest of the it and then consider moving out later on.

If you’re comfortable with a bigger investment, a duplex is good for the benefit of additional cash flow and you could house-hack.

I've been living in my current house hack for ~1.5, and I placed my tenants in September 2023 (lease is up at the end of August).

With that said, I would consider house hacking.

House hack a 2-4 unit with the lowest down payment loan you could find. 3.5% FHA or 5% conventional.

Or, as Travis mentioned, sell your primary residence and explore house hacking opportunities, which will allow you to snowball income savings to deploy into the next deal. 

Quote from @Tyler Garza: Deal :Duplex Home2 beds / unit2 baths / unit3,000 sqftAsking 300k60k downEst rent/yr - 31,2005% Vacancy20% Op ExpenseMortgage 240k assuming 7%Results: CF - 6,600Cocr - 11%Cap - 8%Looking at this for a buy and hold and trying to determine if I am analyzing this right@Tyler Garza I can get to your COC of 11% and cap rate of 8%, but since I don't know your loan payment or amort, I'm not sure how you got to CF of $6,600 - I'm getting arond $4,600.And a couple of things jump out at me with your assumptions versus most of my CFO clients: 1) a 5% vacancy rate and 20% Op exp margin seem a little low, 2) an LTV of 80% LTV (with a 7% interest rate) seems high unless you're house hacking, 3) Depending on the location of the property, the $1,300/month/unit rent may be low.