Can’t wait to see the 1200 sqft extra house we are building for one of our workers.  

Binghamton is an extra hour you don’t need to drive. 

Now your fully renovated home is getting top dollar rents, you could probably refinance too since rates are poised to go lower (lowering your monthly obligation), you could open a HELOC before you move with the extra equity and use that to fund your next deal and now you have 2 homes! 

Maybe to have extra cash for repairs. 

With all of that said, my main goal is to have long term appreciation and if there is a little extra cashflow at the end of the month, great. 

@John Cooper when you or someone you care about is living in the home it is important to be extra vigilant in choosing tenants.

In practice, this could mean 5 extra days that no rent is collected.  

I've allowed pets in my STR for five years and haven't had any problems except some extra cleaning a couple times, which was paid for by the guest. 

Likely it is just a quit claim deed to your new name, however, also note that some states (ie MI - requires another form to be filled out and it changes our taxes - or can change them....).Get the help you need to make sure it is done right without costing you extra down the road.  

Yesterday, the landlord stated that it was their impression that we had agreed to painting not only the two rooms but extra rooms as well and now they are saying they are going to void the clause and raise the rent back to $3200, or we have to paint extra rooms not agreed upon.