The tenant fails to pay their last month's rent and leaves the place needing new flooring and paint.

The reason I post this here is because I got totally different answers from two CPAsHere is the story:I bought the house as investment property and run it as STR for the last two years.

@Saul Vargas what other city saw a 23% increaes last year?

In fact my last completed purchase (I am under contract now for a different purchase) was huge negative cash flow.  

And most recently the last 3-4 years there were a lot of syndication discussions. 

Sell the house you are in now and take that money tax free (if you've lived in it for 2 out of the last 5 years.2.

For context, I'm from Edmonton, and have been in investing in Alberta for last 11 years, and in Texas the last 1.5 years.

we just poured 5 foundations in Columbus Ohio in the last month the total packages with sidewalks is less than $30,000 and that's cheap.

This last year I've been trying to really learn the business and begin to market for properties.

I only plan to manage these two from out of state until we're able to refinance our second home as we're losing money on this particular house for rent as we bought this home last year.