The $1,500 net cash flow you mentioned represents a tightened rental return that could provide consistent passive income.

Kabul Capital LLCI am a certified private money lender broker, providing real estate investor loan, commercial loan and business loans nationwide.We provide financing an alternative to banks to secure lending for your Non-Owner-Occupied real estate investors and we do all kind of commercial real estate financing with as much as 100% financing available.

For my clients, this SCREAMS of building equity, provided the ARVs would support the rehab.

But perhaps you would be better served helping a local experienced investor find deals and ask them to show you exactly how they analyze deals, what's good vs bad, how do they finance (debt vs equity) etc etc and understand their business model that has a proven track record by providing value to them.

If structured well, this can be a great way to get started without much cash.

But if your goal is to leave your day job soon, multi family will offer more cash flow typically.

IF you plan on going back someday, and this is the home you want to move back to, then renting it would be a good idea as long as you estimate that it will cover itself, or preferably, cash flow, which it appears that yours will at @ $2K or so per month (after expenses). 

In addition to refinancing, DSCR loans, and cash-out options, we now provide our services for all property types, not just those from NetWorth.

We provide a proxy service for foreign buyers, basically your arm in Japan without having to travel or know the language.

But I understand where I’m at now, and am willing to work for free until I can provide such value.A little about me.