The cons as i see it include loosing the 2 of 5 year cap gain exception, typically not an ideal rental because the emphasis at purchase was buying a good home for your family and not a rental with optimal return (my ex-home consistently has the lowest cash flow for equity in my RE portfolio), not disconnected enough from the property causes addition angst on damage and may result in over improvement.  

yes they are on fire and Wynwood I'm in brickellExactly except prices for the first-time investor are high. 

I am a fan of KISS in most things and this is not an exception.  

At this point, I would recommend having a line of credit to cover these things so you don't have money sitting in the bank doing nothing when it could be put to work.I have 33 units, no debt except for mortgages, and excellent income.

And I have below clause in the leaseRental Application: Only those people indicated on Tenant’s rental application are permitted to reside at the Premises, with the exception of any minor children born to, or adopted by, Tenant.

I open dialogue with you, and you don't have much to respond to except your same narrative. 

EXCEPT!...

I can't imagine a scenario in which this makes anyone's life better, with the exception of values increasing. 

The facts are the same as in Example 1, except that B's child turns 13 on February 1, 2008, and B pays for the care provided in January 2008 on February 3, 2008... ...the amount B pays will be an employment-related expense under section 21, because B's child is a qualifying individual when the services are performed, even though the child is not a qualifying individual when B pays the expenses.So we CAN, after all, claim expense up to the birthday day!

I like starting small so maybe a food truck in 10 or so years :)I'm currently looking for investors to do what you did except focusing on commercial residential property in Kansas City.