I originally lived in it for a year, while if fixed it up so i only had to put 5% down + closing costs(25,000), and the property has appreciated 8% over the past two years(20,000) but not sure if i should rent it at a loss and structure the lease so i am  in a more favorable leasing cycle, or plan to sell it.

it typically takes a few years just to recover the closing costs. those are the types of things that get sugarcoated / ignored and they shouldn't be.3 separate recent sources show that it is cheaper to rent than buy at high LTV in virtually every market.  

We still see one another, but it's not the close family ties that once existed.

It's also a fluid situation as banks are constantly being acquired or merging so paying close attention to which banks these loan officers move around to is generally a good indication of which banks are going to offer the most aggressive terms.

@Ryan LeakeI've always stuck pretty closely to AirDNA when running numbers for STR clients here in Colorado.

I am currently going through the process of closing on my first multifamily deal.

I would ensure you have enough saved in reserves to handle down months, furnishing and decorating the entire house, closing costs, etc.

@Greg Hammond If you decide the property is no longer worth holding on to and you decide to sell, in addition to the capital gains you want to consider depreciation recapture as well as any closing costs and commissions.

Hello Jennifer,I saw your post and had some questions if you're willing to guide a newbie :) We just closed on our first investment property and the numbers for rental rates dropped in the Mesquite area since we put our deposit down.

I got lucky that the tenant wanted a house in my neighborhood to keep kids close to their schoolsHouse was listed for 1750, they offered 2250 but I declined , so they offered $3k, ended up renting the house for $3250 ($250 pet rent) per month, for 3 month, open to extension if needed.I met the tenant and did the background check on them, I felt comfortable renting to them THD takes time with approving the property, but they were quick to approve the lease, and they sent me the checks the next day after lease signingMy house is not furnished, and they were ok with that , they actually work with a company that provides furniture for the tenant, and they coordinate the delivery and setup of furniture on the lease start dateOverall I like the experience working with them , but hey today is day #1 (out of a possible 3 months), so I will update this post if anything wrong happens or if I notice any red flags