Going from a $232K purchase to a $575K sale is no small feat, especially with a full excavation of the foundation and reframing involved.I’ve got a buddy who tried something similar outside San Diego last year.. he had to reinforce the entire property with a new slab and rebuild the interior layout from scratch.. definitely not for the faint of heart, but his final sale price turned heads in that local market.

But a heads up...the best financing on these types of properties is seller/owner financing.

This problem has been building for a while now and appears to be coming to a head, not just with Blacktip, but with other Cape Coral area builders as well.

Kind of marveling, in the back of my head, at how well REI supports retirement income, but not really groking it.

Wow amazing, you hit it on the head.

@Renee R. just a heads up that there can be significant tax implications to hiring a property manager vs. self-manage.

My advice is dont put so much down and instead buy a Primary and an investment rental all in one step.May sound crazy moving into a new state and also buying a rental but your already way a head of most investors. 

My neck hurts from shaking my head so hard.

Now Mpls is scratching it's head wondering why so many have left, they just can't figure it out, lol.

I would prefer to pay the capital gains today as based on how we spend money as a country, that capital gains rate most likely is going to be heading up in the future not down.