Hi, The house is a 3bed/2bath single family house  with 1450 sq ft.

If you're not sure of you preferred direction with your next property I would invest in understanding investing more thoroughly and read 5-10 books as well as speak to other experienced investors.

Myself and a friend are looking to get into investing in buying hold single-family homes.

Similarly, the sale ($575K) minus your adjusted basis determines your capital gain.You may qualify for the primary residence exclusion (up to $250K single/$500K married) if you lived there 2 of the last 5 years.

I'm quite not 100% on wether or not if I purchase my first investment property where I currently live (Virginia) (*which I will be*). should I also gain my license here since I'll have a property within Virginia.

and trailer stolen, workshop robbed 3 times, business bank account hacked and Not Insured (w a bank name like C#@$e), hip replacement, Botched oral surgery for sinus cyst 3 times, So Far, that caused an infection that kept me from working most of 2024 and just now recovering.SO Fire Sale February for me But I’m too broke to finish a punchlist to keep rental certificate open on top of living expenses and cover unexpected bills.Seeking micro bridge loan in the $5-10k range to be repaid at sale of house.I have another small single family paid off and rents for $950 as well.Any advice or suggestions for resources Greatly Appreciated 

Once you know the "basics', you can then invest OOS more successfully.If you can't afford to invest in your home area, how will you grow your knowledge of an OOS if you take a shotgun approach to where you buy?

I bought a single family home for cash in November, did the renovations and now have tenants.

Transfer landscaping and snow removal to them as well.Do you have a single-family house with a separate garage?

Mortgage lenders will qualify you for a higher purchase amount for multis than they would on a single, because they will count the rent you will be making on the other units as additional qualifying income for your loan application.