I would also have cash reserves if you do this, don't rely solely on a HELOC on the rehab.

So, what I do to satisfy both the financial benefits of utilizing leverage AND the psychological benefit of being debt free is I only have mortgage loans in which the property is the sole collateral with no liability to myself or my entities.  

That's the best advice I can give you.If you want to relocate and this is going to be your sole source of income, do it when it makes sense.

This ensures that your business doesn’t depend solely on one segment of the market.6.

However, it’s important to maintain enough liquidity for unexpected repairs, vacancies, or other expenses across your existing portfolio.If I were in your shoes, I would likely lean towards reinvesting in a way that balances both cash flow and appreciation.

Here are a few thoughts on your perspective:Long-Term Holding Strategy: Your idea of holding onto a property for rental income instead of focusing solely on appreciation is a valid strategy, especially in a market like Japan's.

I'm trying to confirm my understanding of a less straight forward capital gains scenario than the one-time purchase and sale most deals involve.Essentially 100% interest in a condo was acquired over time, as each joint tenant passed away, leaving 1 sole tenant who gained full ownership by rights of survivorship.I've gotten differing opinions from different professionals and am trying to understand the calculation of the basis and the final capital gains  tax that would be due myself so I can spot bad advice and understand deals.Assumptions:A condominiumNo depreciation has ever been taken by any owner.No 1031 exchange.No expenses or improvements.

We find it highly unlikely that the Legislature, having demonstrated its strong commitment to the protection of tenants from unjustifiable evictions, would have intended to permit the eviction of an exemplary tenant solely for the reason that the federal government has found her qualified to participate in the Section 8 housing program pursuant to which the government pays a portion of her rent. ”)

We also have our Courtney Clause .. which states we can terminate the contract give them their deposit back and 500.00 at our sole discretion if we feel we are not getting along and the buyer is just too difficult to work with .. we have had to bring that to the attention of some buyers and their agents to bring them back in line.. 

I was not investing in RE syndications that were solely going to rehab and improve management.