You can also make your place more trouble-free by fixing things up front that are most likely to break (new light fixtures, light bulbs, door locks, etc.).

Just a heads up this will not be tax free, it will be a pro-rated exclusion.

If you paid $950k and only get $1M after selling costs, don’t bother with the 1031.

& how you become financially free is by letting whoever your renting to (I'm guessing that was a step also?)

I havent gotten an insurance for this and a week after close I consulted some insurance provider and he didnt offer me insurance options.

And cost is not coming down.

Hi Chris, As financing costs will be a big factor in determining profitability, you should be asking HMLs for proposals to fund. 

However, the opportunity cost is that I won't have funds to invest with my current salary as long as I have this house.

.$8,000 would likely go away in closing costs.

- The market is in a little bit of a lull right now (buyers market), its a great time to buy, but slower time to sell (my primary business is flipping houses) I can supplement my flipping business by providing project management services/consulting, helping investors find discounted properties, etc. etc.