I agree with @Isadore Nelson, there will be an initial sting due to to the IRA transaction but with quick math at 8% your 60k will generate about 4.8k in year one, in 4 months at 1.3k you've already eclipsed that, their will also be a larger tax for passive income and an initial penalty from the IRS, but it won't erode the 8 month difference let alone the yearly compounding effect.

This is exactly why you take a security deposit.

In our areas we have a lot of new low income construction that comes with a section 8 housing voucher.  

Is your Adjusted Gross Income over $150k where you can't reduce your income with rental losses?

Save that down payment money you mentioned or go for a multi family at a higher price than the single but have rental income. 

My overall goal is have passive income while I am able to travel the world at ease. 

@Brenden Sperl - Can you clarify you rental income?

@Ali HamadeSince your property is ideal for house hacking and generating rental income, targeting an investor-friendly audience is a smart approach.

I'll be 45 next month.option A) Kiyosaki Model: Don't sell and run either long term or short term rentals through it for a year to show income on the property than pull a $300k mortgage on it to build another house in the same neighborhood... repeatoption B)  Ramsey Model, Sell it for $600k.

My wife and I have business income and our accountant can divide the income according to what would be the best for reducing tax liability.