Like any financing strategy, due diligence and proper financial planning are key to making it a successful solution for both parties. 

Selling now could simplify estate planning and lock in gains, especially with capital gains taxes in mind.

The initial plan was to do minor cosmetic things and bring the kitchen and bath up to date but not knowing this fact made our $5,000 budget go to $50k costing us the two year full rehab.

It takes a lot of planning and hands-on dedication to create real profit. 

When I look at the property and the information what I am noticing is the "game plan" is as follows:1.

@Drake BackmanBigger Pockets is a great place to find a tax strategist specializing in real estate taxation.A good real estate tax strategist can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding a tax  strategist specializing in real estate taxation, business taxation, financial planning and tax planning.Consider working with your tax strategist remotely to expand your options.I would also recommend looking for a tax strategist willing to work with you throughout the year.

Excited to see where you put that equity next—what’s the plan for reinvesting? 

My plan is to maintain the status quo and benefit from annual rent increases and equity gain as the tenants' rent covers the mortgage.

Good luck with your real estate plan! 

Since we will be investing remotely, we plan to work with a property management company to oversee day-to-day operations.Does this sound like a solid strategy for a first investment property?