I'm happy to answer any additional questions as best as I can. 

Despite no additional renovations being necessary, our efficient strategy and swift turnaround led to a same-day sale at $225,000.

So you have some great resources right off the bat, my additional Referrals would be too many :)

Additionally, any existing restrictions at the town level (there are MANY) will be abolished, unless deemed "reasonable" by the state.

Additionally, FEMA updated the local flood maps here in July 2024 and much of the area now requires flood insurance. 

That would be a helpful addition to your plan as you would further reduce your cost of living.Also don’t forget from that $600 you are planning on getting in cash flow you have taxes, insurance, maintenance, capex, and vacancy to consider.With two homes, you may want to keep that extra $20k as an emergency fund rather than spending it on a third property and then be left with no emergency funds.

Additionally, my husband lived there for six years, and the city feels like a second home to me.

if there is appreciation, but you wouldn’t sell your current home tax free and buy a neighboring home to rent out, (There by raising your cost basis for additional depreciation and lower capital gains tax.) then it probably doesn’t make a good rental property. . 

With careful planning and local insights, Richmond can be a solid addition to your investment portfolio.Good luck!

Additionally, involve a real estate attorney to ensure the transaction aligns with legal requirements and protects both parties’ interests.