This is where most people start getting nervous. And, honestly, it's for good reason. Having good residents can make owning a rental house a breeze, but bad ones can make it a nightmare. Fortunately, there are practic...

Investment Info:Single-family residence buy & hold investment.

Investment Info:Single-family residence buy & hold investment.

I've lived in Alaska, Idaho, Utah, Arizona, and California(current residence), and analyzing deals in my "back yard" at each location usually ends with me paying out of pocket to own a rental. 

Your primary residence - if you've lived in it for 2 out of the 5 years prior to selling you'll get the $250K/$500K tax free iike @Clint Galliano said. 

I used the proceeds of the primary residence I owned in NC to grow a portfolio of value add buy and hold here in College Station.

I did that with my first two primary residences.

Quote from @Irina Badal: I heard for anonymity purpose it’s advisable to set up a personal residence trust.

If it's an owner occupied loan, the underwriter will need to verify this is your primary residence.

However, the depreciation claimed while the property was a rental must be accounted for upon the future sale of the personal residence, which could increase your capital gains tax liability.The adjusted basis of the property (original cost minus depreciation) will be used to calculate gains or losses at the time of sale.