Quote from @Kornelius Friske: We have a STR located in peoria AZ. it's 6 beds (garage conversion) and about 3900 sq ft in total. our energy bill last month was $450 and has been hovering in the $350-$450 range since we went live in august.

Buy where you intend to live, where you know the areas best.

My sister and I have done all the leg work in finding where the 2 individuals lived at. 

Gutted the kitchen and dining/living room area.

2) If you do owner-occupied cashout refi for best rate, you technically have to live in the home for 12 months before renting it out. * Some responders here may suggest not worrying about that and renting it out anyways.

.- The townhouse you're moving into is currently a rental, but you plan to live there two years for the 121 exclusion.

Quote from @Marc Zak: In the market where I live (San Diego), appreciation has been strong and many predict it will continue to appreciate in the long term.However, with current interest rates (6% at best) and property tax (2%), the annual cost burden is 8%.Am I correct in saying that appreciation has to be above 8% annually (plus whatever my maintenance and vacancy costs are) for me to make any money in this scenario if the property is cash flow neutral?

If you're ever looking to chat more about investing strategies, or need any advice as you start your journey, feel free to reach out.My plan is to kick off my investing journey this year with my first live-in flip.

Since then I have located the area where they entered and sealed it off, however I'm having trouble killing the ones currently living in the attic.

However, if you choose to stay there for a bit and sell you'll get the first $500K of profit tax-free if you've lived in it for at least 2 out of the 5 years prior to sale.