When we moved, we turned it into a rental, hoping this would be the start of our real estate journey—something we’d like to continue once my husband retires.Some key details:My husband is active duty and will retire in 3 years.We have one final move coming up this summer to Raleigh, NC.Our current debts are crippling us—the high interest makes it tough to stay afloat every month.The plan me and my husband are thinking bout:Sell the rental property.Use the proceeds to pay off all our debts, set aside emergency funds and a down payment for our next home.Free up $1,500/month from debt payments, and that also can stash in a high-yield savings account.Regain full VA loan entitlement, allowing us to purchase a multifamily home and use the house hacking strategy for up coming move.Avoid capital gains tax, since April marks five years of ownership, and the tenant’s lease ends in May.This wasn’t our original plan, and we hate the idea of using our equity to pay off debt.

Out of curiosity, how did you originally finance the properties if they are negatively cash flowing?

All of the smell was in the wood floors, original from 1928.

I think an equally probable scenario is that we'll convert it to a rental, and then look into a 1031 exchange if we think we can trade into a better-performing asset. 

You really shouldn’t be running your business on a stranger googling answers for you but…the google says:  Depending on the rental agreement, Georgia landlords typically must provide a 60-day notice for lease renewals or terminations, while tenants generally need to give only a 30-day notice for lease termination.Jan 18, 2024If a new lease is not signed, and the landlord continues to accept monthly rent, the terms of the original lease still apply, except the landlord is required to give sixty (60) days' notice before she can terminate the lease or change the terms, and you (the tenant) are required to give thirty (30) days' notice before leaving.So you can’t non-renew until the end of April and you can’t even increase the rent until then.

It reminds me of the Charles Schwab study - their best performing retail investment accounts were from dead people that never closed out the account.

Hey y'all, I have approached a point where I have built up more confidence in performing my first house flip in the Charlotte metro region.

Originally posted by @Andrew Lastivka:Hello, I am a new STR investor and looking for an agent in Central, Ohio and Fort Lauderdale, FL, and surrounding Phoenix, AZ area who specializes in STR's that can assist in buying properties and/or rental arbitrage.

Before you even address your original question.  

Traditional loans are debt—you borrow money, take on a repayment schedule, and owe interest, regardless of how the property performs.