A few other things I'm considering;- I don't need the extra cash flow to live and am just approaching it to remove the high mortgage interest, but also hedge risk that the current stocks might tank in a few years.- Could take all current cash flow and a few thousand a year to pay off the property in 5-10 years.- Hold for a bit and 1031 into something else but am fairly confident there is not much appreciation to come on this property.

Challenges?

Albany, Syracuse, Utica, OH, PA, etc.) for cashflow.The challenge in these markets is that demand is through the roof, and many properties either sell at the asking price or above the asking price (Suffolk's sale price average was 1.5% ABOVE the asking price).If I were in your shoes, I'd explore local and remote multi-family options before considering the mid-term rental route.All the best!

I have not had to do that yet.Getting good contractors at decent prices can be a challenge in small towns if you are not close to a larger city.

Each town has its own benefits and drawbacks, so be sure to research them based on your rental approach.

When you sell your primary residence to an LLC and become a tenant, the IRS may challenge this transaction as lacking a bona fide business purpose.

Here’s how I’d approach it:1.

However, some challenges to consider are the additional paperwork, property inspections, and potential tenant turnover.

I have two: one is my primary residence that I also use as an STR, and the other is a leased rental property that I manage remotely.Since I'm out of town, I'm finding it challenging to manage things like finding a reliable handyman and getting help with staging.

Challenges?