This move is such a great example of what determination, solid planning, and truly listening to investors’ needs can achieve.

Hi Dave, welcome to the real estate worldCollin, Denton, and Grayson counties are great picks with growing demand and strong rental potential.

Sometimes when examining the entire capital stack, its determined the higher finance charges paired with higher leverage is a winning proposition but only experienced real estate investors should be making that call. 

I'm thinking of doing this myself and trying to determine what this is going to cost me.

Depending on those estimates, the buyer can determine if it worth pursuing (I suspect it will be worth pursuing).Good luck

After years of research and deliberation, my wife and I determined to start our real estate portfolio in 2025.

Similarly, the sale ($575K) minus your adjusted basis determines your capital gain.You may qualify for the primary residence exclusion (up to $250K single/$500K married) if you lived there 2 of the last 5 years.

Typically SF'ers pick an astronomical price out of thin air. 

Can I DM you to pick your brain on what you've learned over the years?

Your depreciable basis is determined by your purchase price and expenses, not the seller’s loan balance.