The buyer ended up buying and reconverting to a single family, and doubled his purchase price.

Buying at the mortgage balance (~$150K) positions is under the fair market value and can trigger gift tax rules.

I may pay off my current house (6.625%), pay off half and buy 1-2 rentals or just refinance it and buy 3-4 rentalSI’m interested to see what you decide to do as wellJustin 

If you are worried about it, buy an umbrella insurance policy for $1 million and sleep easy. 

If you are using it to buy a turnkey property which needs to produce cash flow to be considered a viable deal how does buying turnkey(Little to no cash flow) combined with HML(High interest only debt) make alot of sense financially? 

So if you make you buy box too tight, you will find very few deals that will fit your buy criteria. 

You should do all the same level of due diligence you otherwise would to buy the property. 

Sorry for the tough love, but not buying the above.You & your wife's salaries should cover your expenses, while the income from your remodeling gigs should be saved.Recommend you review EVERY dollar you made and what you spent it on in 2024.

To whom this may concern, I am an investor looking to buy my second property.

If so, they can sell within 2 years and not pay capital gains taxes on the sell of the home.They could take that money and buy multiple rental homes in other areas if they wanted, or use the money to downsize in to a different home while still having money left over.